China will provide nearly US$130 million in grant aid to the Maldives, President Mohamed Muizzu confirmed on Saturday.

“Agreements were signed [with China] in the form of grant aid,” he said.

Speaking to the media at Velana International Airport upon his arrival in Maldives after completing his state visit to China, the President said China would provide CN¥920 million, approximately US$130 million in grant aid to the Maldives over several projects identified by the government with most of the aid going towards the development of Malé’s roads.

Other agreements signed during the President’s visit includes the construction of 30,000 social housing units at Ras Malé and the expansion of Velana Airport.

An agreement has also been signed with a Chinese company to construct seven buildings, designated the Commercial Spine, at Hulhumalé Phase II’s Urban Isle, he said.