China offers $200 million to Sri Lanka

June 12, 2010 10:30 am

Beijing has offered $200 million to Colombo for the second phase of the Hambantota Port. The announcement of the offer coincided with the visit of Vice-Premier of the State Council of the People’s Republic of ChinaZhang Dejiang.

“Sri Lankaand Chinawill also sign a number of Agreements and MoUs relating to the fields of information technology, maritime ports, economic and technical cooperation and southern transportation development, during the visit,” the Foreign Affairs Ministry said.

Since 2006, the Chinese government has provided Sri Lanka $3.06 billion in financial assistance for various projects. Among the major development projects underway with Chinese assistance are the Colombo-Katunayake expressway project, Norochcholai power plant, Hambantota port development project, tank farm project at Hambantota, and the road infrastructure project.

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