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Sri Lanka announces resumption of Chinese Colombo Port City project

Sri Lanka announces resumption of Chinese Colombo Port City project
11 April 2016 Current Affairs: Sri Lankan Government has formally announced the resumption of work on the stalled Chinese Colombo Port City project. The announcement was made in the Joint Statement by China and Sri Lanka at the conclusion of the official state visit of Prime Minister Ranil Wickremesinghe to Beijing.Both sides will use the Chinese initiative to develop a 21st Century Maritime Silk Road to advance infrastructure development in Sri Lanka. China has pledged fresh support to the Sri Lanka in infrastructure development. Both sides will also advance development the China-Sri Lanka Free Trade Agreement (FTA) negotiations, promote joint ventures and expand cooperation in the areas of economy, culture, science and technology.Sri Lankan Government’s announcement comes at a time when the island country is facing a debt crisis with looming repayments of Chinese infrastructure loans. China is stressing on cooperating with Sri Lanka in further developing the infrastructure. While the Sri Lanka has committed to revive the Chinese Port City Project in order to work out solutions to ward off immediate Chinese loan repayment concerns.


December 2016 Current affairs
9 DEC
NEWS
8 DEC
NEWS
7 DEC
NEWS
6 DEC
NEWS
5 DEC
NEWS
3 DEC
NEWS

November 2016 Current affairs
30 NOV
NEWS
29 NOV
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28 NOV
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26 NOV
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25 NOV
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24 NOV
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October 2016 Current affairs
31 OCT
NEWS
27 OCT
NEWS
26 OCT
NEWS
25 OCT
NEWS
24 OCT
NEWS
22 OCT
NEWS

September 2016 Current affairs
30 SEP
NEWS
29 SEP
NEWS
28 SEP
NEWS
27 SEP
NEWS
26 SEP
NEWS
24 SEP
NEWS

August 2016 Current affairs
31 AUG
NEWS
30 AUG
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29 AUG
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27 AUG
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26 AUG
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