State Bank of India (SBI) has issued USD 16.20 million in loans for COVID-19 relief purposes directed at businesses operating in the Maldives, in order to support the government measures taken amid Pandemic.
According to the Indian High Commission in the Maldives in addition to the loans, SBI has also deferred loan repayments for 200 retail accounts.
SBI is known as the biggest commercial bank in India. Male’ City and Addu City both have branches of SBI.
Loan repayments are being deferred by BML and MIB in addition to SBI. Loans are also being issued by SDFC as well, to support businesses.
India has assisted the Maldives in several ways in relation to the COVID-19 pandemic.
Full details are available at the link below:
