China's Xi offers fresh $295 million grant to Sri Lanka - News Summed Up

China's Xi offers fresh $295 million grant to Sri Lanka


NewsCOLOMBO (Reuters) - Chinese President Xi Jinping has offered Sri Lanka a fresh grant of 2 billion yuan ($295 million), as Beijing looks to expand its influence in the tiny island country off India’s southern tip. “When the Chinese ambassador visited my house to fix the date for this ceremony, he said that Chinese President Xi Jinping sent me another gift,” Sirisena told the gathering. But more than a year later, the Sirisena government allowed Chinese projects to resume after a few changes in some of them. China was among the first countries that stepped in to help the reconstruction of Sri Lanka after a 26-year-long civil war ended in 2009. However, many of China’s projects, backed by loans from its government and initiated under Rajapaksa, have faced opposition in Sri Lanka amid concerns raised by the United States, India and Japan that China might use Sri Lanka as a military base.


Source: Sunday Times July 23, 2018 09:11 UTC



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