Maldives Set to Benefit as China’s BRI Injects Additional US$11 Billion Investment

China will add US$11 billion to the Silk Road Fund as part of the Belt and Road Initiative (BRI), which will benefit the Maldives, according to Chinese Ambassador Wang Lixin. The announcement was made by President Xi Jinping at the BRI's 10th anniversary summit in Beijing. The total increase in funding is over US$100 billion, including US$47.9 billion each for China Development Bank and China EXIM Bank. The Maldives joined the BRI under former President Abdulla Yameen Abdul Gayoom. The Sinamalé Bridge, linking Malé, Hulhulé, and Hulhumalé, was built with 50% Chinese funding (US$200 million) and completed during Mohamed Muizzu's tenure as Housing Minister. Muizzu has expressed hope for continued close relations with China and other nations for mutual development. Critics call the BRI a 'debt trap', noting that BRI nations owe over US$300 billion to China's EXIM Bank.

China will add US$11 billion to the Silk Road Fund as part of the Belt and Road Initiative (BRI), which will benefit the Maldives, according to Chinese Ambassador Wang Lixin. The announcement was made by President Xi Jinping at the BRI's 10th anniversary summit in Beijing. The total increase in funding is over US$100 billion, including US$47.9 billion each for China Development Bank and China EXIM Bank. The Maldives joined the BRI under former President Abdulla Yameen Abdul Gayoom. The Sinamalé Bridge, linking Malé, Hulhulé, and Hulhumalé, was built with 50% Chinese funding (US$200 million) and completed during Mohamed Muizzu's tenure as Housing Minister. Muizzu has expressed hope for continued close relations with China and other nations for mutual development. Critics call the BRI a 'debt trap', noting that BRI nations owe over US$300 billion to China's EXIM Bank.

China will add US$11 billion to the Silk Road Fund as part of the Belt and Road Initiative (BRI), which will benefit the Maldives, according to Chinese Ambassador Wang Lixin. The announcement was made by President Xi Jinping at the BRI's 10th anniversary summit in Beijing. The total increase in funding is over US$100 billion, including US$47.9 billion each for China Development Bank and China EXIM Bank. The Maldives joined the BRI under former President Abdulla Yameen Abdul Gayoom. The Sinamalé Bridge, linking Malé, Hulhulé, and Hulhumalé, was built with 50% Chinese funding (US$200 million) and completed during Mohamed Muizzu's tenure as Housing Minister. Muizzu has expressed hope for continued close relations with China and other nations for mutual development. Critics call the BRI a 'debt trap', noting that BRI nations owe over US$300 billion to China's EXIM Bank.

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