China EXIM Bank's loan refinanced due to financial constraints

Maldives has arranged a portion of the loan taken out from China's EXIM Bank to be refinanced.

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The Ministry of Finance in the capital city of Malé -- Photo: Mihaaru

Ameera Osmanagic

2024-10-22 18:41:07

The government has taken an additional loan in order to repay the loan taken out from China's EXIM Bank back in 2015.

According to the document shared with the Ministry of Finance by the Public Accounts Committee of the Parliament, USD 75 million has be refinanced in order to pay back a portion of the USD 378 million loan taken out via China's EXIM Bank for the Velana International Airport (VIA) project.

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