Chinese Ambassador to the Maldives, Zhang Lizhong has stated that the Chinese loans given to the Maldives were ones which are easy to repay and noted the importance of high-level discussions regarding these loans between the two governments.
Answering a question during a press conference held at the Chinese Embassy, Zhang stressed that loans were provided by China to the Maldives on projects which would generate revenue once completed. He stressed that there was room for negotiations and discussions during Foreign Minister Abdulla Shahid’s visit to China, if Maldives had any concerns about said loans.
President Ibrahim Mohamed Solih’s administration has previously talked about how the Chinese loans had a high interest rate which was concerning, and that discussions regarding these talks need to be held. When questioned whether these discussions had already begun or not, Zhang revealed that arrangements were underway to facilitate those discussions during Minister Shahid’s visit to China.
He noted that they were ready to facilitate such talks on a visit by the Foreign Minister and hinted that the Minister may travel to China in the near future. He added that both parties were waiting for the most suitable time to meet each other for the discussions.
The Ambassador also highlighted that loan policies have been strengthened under their Belt and Road Initiative. As such, a transparent and sustainable policy is practiced by the country when financing other countries.