‘Chinese loans, development projects crucial for Lanka’s development’

COLOMBO, JUNE 16 (XINHUA) – Loans and investments from China are extremely crucial for the development of Sri Lanka, a top political official said here on Tuesday.

Speaker of the Sri Lankan Parliament, Chamal Rajapaksa in an exclusive interview with China’s Asia Pacific Daily said while China and Sri Lanka had enjoyed generations of friendship, China had played an important role in the country’s reconstruction process since the end of the war in 2009.

“The famous SinoLanka Rubber-Rice Pact signed in 1952 played an important role in the development of Sri Lanka. The pact witnessed the great friendship between China and Sri Lanka. However, the development of Sri Lanka stagnated because of the 30-year-civil-war. China provided heavy loans and investment to support the post-war reconstruction of Sri Lanka since 2009, which pushed the Sri Lankan economy to a higher level and showed the great prospects of Sri Lanka to the world,” Rajapaksa said.

Citing examples he said the Puttalam Coal Plant funded by the Chinese provided 50% national electric power and cut 25% of the electricity cost since its operation. The south container wharf at the Colombo Port, a joint venture between the Sri Lanka Ports Authority and China Merchant Holdings Ltd, through its international high standards helped the Colombo South Port to become the World’s Fastest Development Port in 2014.

The Colombo – Katunayake Expressway, which connects Colombo City and the Bandaranaike International Airport at Katunayake, reduces the travel time between Peliyagoda, in the outskirts of the Capital, and Katunayake to 40 minutes from the earlier time of 2 hours. The quick travel between the airport and Colombo with enhanced safety will also help to boost the country’s economy in addition to providing pleasant travel to the road users.

“China has vigorously supported and participated in the construction process of Sri Lanka which has benefitted the Sri Lankan people. The friendship between China and Sri Lanka is impossible to break and would not to be harmed,” the Speaker further said.

Since Chinese President Xi Jinping’s official visit to the island nation in September, the friendship between China and Sri Lanka had risen to a higher level with deeper mutually beneficial cooperation in various fields which had attracted investors both locally and internationally, Rajapaksa added.

China has vigorously supported and participated in the construction process of Sri Lanka which has benefitted the Sri Lankan people.The friendship between China and Sri Lanka is impossible to break and would not to be harmed