Friday, April 08, 2016

Debt forces Sri Lanka back into China's Colombo Port City plans



 
His comments came as Prime Minister Ranil Wickremesinghe is visiting Beijing to renew the business relationship that had been somewhat strained by the government's decision to delay the controversial Colombo Port city project inaugurated by the Chinese president Xi Jinpeng in 2014. 
 
China had backed the former President Mahinda Rajapaksa's bid to build the post conflict infrastructure in the country.
 
Chinese loans were obtained by Rajapaksa to finance his airport and sea port projects in addition to the Colombo Port City.
 
Wickramaratna had said that the decision to stop the Port City project was based on the environmental concerns.


http://economictimes.indiatimes.com/news/international/world-news/sri-lanka-back-holding-hands-with-china-over-colombo-port-seeks-to-convert-8-billion-debt-into-infrastructure-equity/articleshow/51731884.cms

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