Cyryx College Chairman Ahmed Shareef says that the loans taken from China are not a debt trap for the Maldives.
Shareef further explained that the loans taken from China will not be difficult to pay back if the government follows the project agreements signed in for it. He said that major guarantees from the state were the bridge and housing flats from the loans taken from China. Further, stating that the loans taken from China are not a debt trap for the Maldives.
Shareef also said that if the loans from China, was taken as business projects, hence it is an investment for the housing flats and the bridge. Shareef stated that these major projects had predicted revenue from it to the state. So the revenue generated from the sales of housing flats and the bridge toll fee revenue will benefit the state.
Referring to the statement by the president of China Xi Jinping, describing the bridge as the China-Maldives friendship bridge, Shareef stated that the Maldives need foreign friendships and following the China-Maldives friendship bridge, Maldives has become important to other foreign countries as well.
Developments brought in by the loans taken from China were initiated in the Maldives during the administration of former President Abdulla Yameen Abdul Gayyoom. The projects under this involved development of a bridge connecting Male’ and Hulhumale, development of the International Airport as well as housing units development projects in the greater Male’ area.
Shareef further explained that the loans taken from China will not be difficult to pay back if the government follows the project agreements signed in for it. He said that major guarantees from the state were the bridge and housing flats from the loans taken from China. Further, stating that the loans taken from China are not a debt trap for the Maldives.
Shareef also said that if the loans from China, was taken as business projects, hence it is an investment for the housing flats and the bridge. Shareef stated that these major projects had predicted revenue from it to the state. So the revenue generated from the sales of housing flats and the bridge toll fee revenue will benefit the state.
Referring to the statement by the president of China Xi Jinping, describing the bridge as the China-Maldives friendship bridge, Shareef stated that the Maldives need foreign friendships and following the China-Maldives friendship bridge, Maldives has become important to other foreign countries as well.
Developments brought in by the loans taken from China were initiated in the Maldives during the administration of former President Abdulla Yameen Abdul Gayyoom. The projects under this involved development of a bridge connecting Male’ and Hulhumale, development of the International Airport as well as housing units development projects in the greater Male’ area.
