A general view of Colombo Port City construction site, which is backed by Chinese investment is seen, in Colombo, Sri Lanka November 5, 2018. To match INSIGHT SRI LANKA-POLITICS/CHINA-INDIA.
China has invested an estimated $11 billion in Sri Lanka, around $8 billion in the form of loans related to Xi’s signature “Belt and Road Initiative” designed to boost trade and transport links across Asia. Chinese firms, employing thousands of local workers, have built a giant port and plan to construct power stations and expressways as well.
Much of the world shunned Sri Lanka, accusing the Rajapaksas of widespread human rights violations during the conflict – allegations which they deny.Ties soured in 2015 with the election of Maithripala Sirisena as president. Wary of growing Chinese influence and mounting debt, he suspended all Chinese investment projects, citing allegations of corruption and overpricing.
But shortly before his election, adviser Palitha Kohona told reporters that Rajapaksa would “restore the relationship to where it was. But China’s biggest interest lies in mega-projects. The new southern port of Hambantota, near one of the world’s busiest shipping lanes, cost $1.4 billion and kicked off a major post-war construction boom.
It also offers lessons in Chinese language to help the growing number of Sri Lankans working with Chinese, from grocers to bank managers.
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