India bore $45 million in interest as Maldives repaid $150 million loan to India

Maldives repaid India a $150-million loan, with Maldivian authorities paying the principal while India bore the entire $45-million interest burden over the five-year tenure, the Ministry of External Affairs said. It added that periodic T-bill rollovers are central to India’s Neighbourhood First policies. India has also extended a ₹30-billion currency swap facility to support Maldives.