President Dr. Mohamed Muizzu said on Saturday that President Xi Jinping has agreed to facilitate the easiest manner possible for Maldives to repay its debt to China.
In the statement he gave after his first official trip to China at President Xi’s request, President Muizzu said in the official talks between the two countries, Xi has agreed to arrange for providing an ease in the repayment of loans owed to China.
A financial team from China is to arrive to Maldives soon to organize this, he said.
“This will give us a lot of relief in terms of loan repayment as well,” the President said, speaking of his trip to China from Monday to Friday.
President Muizzu added China has also agreed to grant Maldives USD 130 million in aid. This money will be utilized for development projects determined by Maldives.
“One of the biggest expenses this money will be used for is to develop the roads of Male’. Other things in addition to this will also be guaranteed with this [money],” he said.
President Muizzu said the Maldives had also signed an MoU with China on the construction of 30,000 social housing units in Rasmale' and on the expansion of Velana International Airport.
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