President Dr. Mohamed Muizzu has revealed a significant development in diplomatic ties, stating that the Chinese government has decided to grant concessions to the Maldives. Speaking at a media briefing following his official trip to China, President Dr. Muizzu shed light on the discussions held with Chinese authorities to facilitate a more manageable repayment process.
During the official talks, President Muizzu formally requested assistance from China, emphasizing the need for eased terms in loan repayment. Subsequently, the president confirmed that China has fully accommodated the Maldives government’s request, particularly addressing the prolonged non-payment of loans over the next five years.
Highlighting the cooperative spirit between the two nations, President Dr. Muizzu outlined that the discussions delved into finding solutions for the extended non-payment of loans to China. As part of this arrangement, a technical team from China is expected to arrive in the Maldives to assess and determine effective methods for settling the loans without requiring payment for the next five years.
The loans from China play a pivotal role in financing significant development projects in the Maldives, encompassing vital initiatives such as bridge construction, Hiyaa flats, and other key infrastructure projects. China’s generous financial assistance underscores its substantial contribution to the Maldives’ development and economic growth, solidifying its position as a key partner in the progress of the island nation.