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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.


March 2017 Current affairs
24 MAR
NEWS
23 MAR
NEWS
22 MAR
NEWS
21 MAR
NEWS
20 MAR
NEWS
18 MAR
NEWS

February 2017 Current affairs
28 FEB
NEWS
27 FEB
NEWS
25 FEB
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24 FEB
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23 FEB
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22 FEB
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January 2017 Current affairs
31 JAN
NEWS
30 JAN
NEWS
28 JAN
NEWS
27 JAN
NEWS
25 JAN
NEWS
24 JAN
NEWS

December 2016 Current affairs
31 DEC
NEWS
30 DEC
NEWS
29 DEC
NEWS
28 DEC
NEWS
27 DEC
NEWS
26 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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