The Edition


Maldives receive 'Silk Road Super Ambassador Award'

Ahmed Aiham
29 January 2019, MVT 12:29
The Sinamale Bridge connecting capital Male CIty, Airport island Hulhule and reclaimed suburb Hulhumale. The bridge was built with loan assistance from China. PHOTO: HUSSAIN WAHEED/MIHAARU
Ahmed Aiham
29 January 2019, MVT 12:29

China conferred the 'Silk Road Super Ambassador Award' to Maldives, for its contribution to the 'Belt and Road Initiative' (BRI).

In addition to Maldives, China also presented the award to neighbouring Sri Lanka, Pakistan, Malta, and Bosnia and Herzegovina.

BRI's purpose is to further develop and strengthen the Chinese Silk Route. Some of the Chinese projects currently underway in Maldives are a part of the BRI.

There have been many concerns in regards to developing countries facing debt crises due to large scale loans given out by China.

Ministry of Finance revealed that during former President Abdulla Yameen Abdul Gayoom's administration, Maldives had become indebted to China by over MVR 21 million.

In 2018, Sri Lanka leased the Hambantota Port, which was built with Chinese loans, for 99-years after the country failed to make progress in the loan repayments.

Pakistan is also conducting large projects with China, with some amounting to USD 62 million.