China commits $130m in grant aid to Maldives
China has also agreed to begin negotiations on potentially deferring or giving more lenient repayment terms for its loans to China.
By
Fathmath Ahmed Shareef
China has pledged 920 million Chinese yuan (USD 130 million) in grant aid to Maldives.
President Mohamed Muizzu made the announcement at a press conference at Velana International Airport on his return to Maldives after his state visit to China. The president said it would be used for development projects in Maldives.
The president said that the bulk of the funds will be spent on the construction of roads in Male.
The funds will also be used for several other development projects, he said. However, he did not give any more details.
The president highlighted the agreements reached during his visit to China:
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Contract for 30,000 housing units in Ras Male
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Development of Velana International Airport, as per the recently announced concept
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Agreement to develop seven buildings in the commercial area of the second phase of Hulhumale
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Preparations for the administrative work of formulating and signing a sister city agreement between Fujian (a province on the southeastern coast of China) and Male
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A grant agreement for the development of sports clubs and associations and the training of athletes
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Construction of a 100-bed tertiary hospital in Villimale under China's grant aid
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An agreement to provide medical equipment to 17 island health centres with Chinese grant aid
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Grant agreement for beach protection and waste management projects in four islands
China has also agreed to begin negotiations on potentially deferring or giving more lenient repayment terms for its loans to China for the next five year, the president said.
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