Government insists Chinese loans in accordance with talks

The Government today insisted that the debt equity transfer on the Chinese loans for Sri Lanka will be implemented in accordance with the discussions Prime Minister Ranil Wickremesinghe had in Beijing with the President of the Peoples Republic of China Xi Jinping and Prime Minister Li Keqiang in April.The Government information department said that in accordance with the discussion, in the first instance the Chinese Government will promote Chinese firms interested in entering to Private-Public Partnership with Sri Lanka Government in regard to the specified project. “Following these discussions, on Friday 29 th July 2016, a meeting was held in Hambantota by the two Ministers with the Chinese Ambassador and interested Chinese firms on the proposals for Mattala Airport, Hambantota Port, Tourism Zone, a Petroleum Refinery, a dockyard, a LNG Power Plant and Industrial Parks. These will come under the Public Private Partnership between Sri Lanka Government Agencies and Chinese Investors. Furthermore, the Ministry of Development Strategies and International Trade is discussing other investment proposals in regard to Hambantota with foreign investors of other nationalities. This includes a second Petroleum Refinery,” the Government said in a statement. The Cabinet Committee on Economic Management (CCEM) has instructed Minister of Development Strategies and International Trade and Minister of Special Assignments to discuss the required modalities with the Chinese Ambassador and to report back to the CCEM. The discussions have been finalized and report to be submitted. The Government said that a part of the local media has distorted the facts in regard to these transactions in order to disrupt the economic development of Sri Lanka. (Colombo Gazette)

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