President Dr. Mohamed Muizzu has announced that the Chinese government has decided to grant concessions to Maldives.
Briefing media following his trip to China, President Dr. Muizzu stated that discussions were held to explore ways to ease the repayment process, and the Maldives government formally requested assistance during official talks with China.
President Muizzu confirmed that China has fully accommodated the Maldives government's request regarding the repayment of loans. Noting the cooperation between the two countries, he mentioned discussions focused on addressing the prolonged non-payment of loans to China over the next five years.
The president said a techincal team from China will arrive in Maldives to assess and determine methods to settle the loan without payment for the next five years.
The loans from China are designated for significant development projects in the Maldives, including bridge construction, Hiyaa flats, and various other crucial initiatives. China's substantial role in the development and economic growth of the Maldives is underscored by its generous financial assistance, making it a key contributor to the country's progress.