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China pledges support for Sri Lanka through ‘difficult times’, renews promise to develop ports through belt and road
- Chinese vice-minister and Sri Lankan foreign secretary reaffirm commitment to Beijing’s infrastructure plan as island country battles economic crisis
- In addition to port projects in Colombo and Hambantota, China will expand cooperation in finance, investment, energy, logistics and tourism
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China pledged to support Sri Lanka through “difficult times” while renewing its commitment to developing the island country’s largest trading ports through the Belt and Road Initiative as Colombo continues to battle a crippling economic crisis.
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In a meeting between visiting Chinese vice-minister for foreign affairs Sun Weidong and Sri Lankan Foreign Secretary Aruni Wijewardane, the two sides reaffirmed their commitment to the belt and road, China’s multibillion-dollar infrastructure connectivity plan linking Asia, Europe and Africa.
“China is willing to work with Sri Lanka to strengthen exchanges at all levels and cooperation in various fields, and promote the comprehensive development of two flagship projects, Colombo Port City and Hambantota Port,” Sun said on Tuesday, according to the Chinese foreign ministry.
Since the end of a 26-year civil war in 2009, China has invested billions of dollars into Sri Lanka’s infrastructure.
Colombo Port City, also known as Colombo International Financial City, is a 269-hectare (665-acre) project in the capital. It was launched in 2014 and marked for completion in 2041, with a total expected investment of US$15 billion. In May, state-owned China Merchants Group announced it would invest in a large logistics complex at the port, with an estimated construction cost of US$392 million.
The South Asian country’s next largest port is Hambantota International Port, which has been on a 99-year lease to China Merchants Port since a US$1.1 billion deal was signed in 2017. The shipping company operates the port and is developing 6,070 nearby hectares into an economic zone.
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Sun said Beijing would also expand cooperation with Colombo in the areas of finance, investment, energy, logistics and tourism. Sri Lanka’s embassy in China and its tourism ministry last week held a conference to promote interest among Chinese tourists. Over 1 million Sri Lankans depend on tourism for their livelihood, the authorities said.
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