China has decided to allow concessions on its direct loans to the Maldives. The announcement was made by President Dr. Mohamed Muizzu while speaking to reporters upon his return to the Maldives following a state visit to China.
The President said he had discussed with the Chinese government to facilitate concessions in the repayment of direct loans. He assured that the eases will be facilitated, and revealed that China has also decided to send a relevant technical team to the Maldives regarding the matter.
"China will dispatch a technical team specializing in finance to the Maldives to assess the feasibility of extending the grace periods and establishing a more manageable repayment plan over the next five years," he said.
The president said the Chinese government’s decision to ease loans would provide substantial relief to the Maldives in loan repayment.
The Maldives' second largest debt is to China.
