China ready to discuss concerns over borrowings

China has stated on Monday that they are ready to listen to the concerns regarding the large amount of loans borrowed from China by former president Abdulla Yameen Abdul Gayyoom’s government.

At a press conference held on Monday regarding the 2nd forum on the “Belt and Road” mega-project held last week, Chinese ambassador to the Maldives Zhang Lizhong said he believes the loans given by China were issued for projects that would generate revenue for the Maldives.

However, any concerns regarding the loans may be addressed and resolved through high-level discussions between the two governments, said the ambassador.

The ambassador hinted that Foreign Minister Abdulla Shahid may travel to the Republic of China in the near future.

The former government took several loans from China, totaling over US$ 1.4 billion. President Ibrahim Mohamed Solih has previously expressed concern that the loans had high interest rates, and that the loans were disadvantageous to the Maldives. The President had further stated that the details of several agreements between the two governments are unknown.

The government has earlier stated that all agreements made with China will be reviewed in detail.