The government has dismissed claims that Maldives owes China USD 3.2 billion.
During a recent trip to Dhidhdhoo in Haa Alifu Atoll, former President Mohamed Nasheed said Maldives owes China an amount that may disrupt the independence and sovereignty of the country, warning Maldivians need to be vigilant.
Speaking to PSM News, refuting the comments, Minister of Economic Development Mohamed Saeed stated the loans granted by China are not even close to the figure mentioned by the former president. Economic Minister Saeed expressed all the developmental projects were carried out openly, reaffirming the transparency of the procedures. In this regard, Minister Saeed said the government would not have to tolerate a debt that burdens the people and revealed the details regarding the debt will be released soon.
Furthermore, the minister also refuted rumours that projects were carried out at a higher cost. The economic minister assured all loans attained by the government were within international guidelines.
Projects conducted from grant aid from the Chinese government include development of Sina-Male' Bridge, expansion of Velana International Airport (VIA) and several social housing projects. In this regard, Sina-Male' Bridge was financed with USD 116 million as grant aid from the Chinese government, USD 72 million as loan aid from the Chinese government, in addition to USD 12 million provided by the Maldivian government. Meanwhile, USD 400 million loan was provided by the China-based Exim Bank for the expansion project of VIA.