With Chinese grants and loans Malé-Hulhulé bridge inches closer to reality
The Malé-Hulhumalé bridge will cost an estimated US$300 million, finance minister Abdulla Jihad revealed today. In addition to US$100 million in grant aid, the Chinese government will also provide a US$170 million loan at a two percent interest rate.
09 Jul 2015, 7:50 PM
The Chinese government has pledged to provide US$100 million as free grant aid to finance the construction of a US$300million bridge between capital Malé and airport island Hulhulé.
The Chinese and Maldivian governments today signed Memoranda of Understanding (MoUs) related to financing the project and the construction stage.
Speaking at the signing ceremony, finance minister Abdulla Jihad said that the Chinese government will provide a US$170 million loan at an interest rate of two percent. The remaining US$30 million will be spent from the Maldivian state budget.
“This is an important step to make the bridge viable,” Jihad said.
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