Export-Import (EXIM) Bank of China has agreed to loan USD 373 million for the development of Ibrahim Nasir International Airport (INIA)’s new runway, announced tourism minister Moosa Zameer on Sunday. The minister, who is currently in Chinese capital Beijing to settle the final transactions of the loan, told Haveeru via telephone that the loan was arranged by China’s Ministry of Commerce. “I’m here in China for the final negotiations. I will sit down with EXIM Bank tomorrow for the final discussion. Next, we’ll be proceeding with our proposals,” said the minister. Accompanying Minister Zameer to the discussion are Maldives Airports Company Limited (MACL)’s managing director Adil Moosa, deputy attorney general Ahmed Usham and the state finance minister Mohamed Munawwar. The Maldives government had signed an MOU with China’s largest construction corporation Beijing Urban Construction Group (BUCG) last August for the development of INIA’s second runway. The new runway measures 3.2 kilometres in length. BUCG had been the contractor of various major projects in China such as Bird Nest Stadium in Beijing and several airports of the nation.