The USD50 million loan granted by the Indian government to the former Maldives government has been repaid on Tuesday.
A top government official revealed that the loan was repaid after the Indian government refused to extend the repayment period.
“USD25 million was paid as the repayment period wasn't extended following the power transfer. But the Indian government later returned that amount,” official said.
“But this time the period wasn't extended.”
Maldives government has repaid the loan amid media reports that India is on the verge of freezing aid to the Maldives after the government decided to prematurely terminate the contract with India’s GMR Group to operate the Ibrahim Nasir International Airport (INIA).
However, Indian High Commission in Male on Monday said that the reports were “unofficial” and insisted that the Indian government would not make a “unilateral” decision on the matter.
04/12/12 Abdullah Jameel/Haveeru Online
