The Maldives and China governments have formalised an accord to construct 500 social housing units in Malé City, representing a crucial advancement in tackling housing issues in the capital.

The contract was finalized by signing the “Minutes of the Meeting” during the High-Level Conference on Global Action for Shared Development, which took place in Beijing from April 21 to 22.

The Ministry of Infrastructure, Housing and Urban Development stated that the initiative will be funded by interest-free support from the Chinese government, emphasizing an ongoing dedication to mutual development and enhanced bilateral collaboration.

The document was endorsed by Ibrahim Thoaam Mohamed, the Minister of State for Infrastructure, Housing and Urban Development, on behalf of the Maldivian government. Liu Junfeng, Chairperson of the China International Development Cooperation Agency (CIDCA), signed on China's behalf.

The agreement comes after thorough conversations conducted during the conference and shows both nations’ continuous commitment to enhance collaboration in important development areas.

In a related meeting, representatives from both parties also assessed advancements on additional China-funded development initiatives in the Maldives.

They reaffirmed their dedication to guaranteeing the secure, prompt, and effective execution of all collaborative projects.