Sri Lanka receives US$ 292.1m from China for port

by Sivakami
Dec 30, 2017

Sri Lanka received its first instalment from China for Hambantota Port totalling US$ 292.1 million, the Central Bank confirmed on December 26. 

The sum was credited to Sri Lanka by China Merchant Port Holdings (CMPort) in line with the long lease of Hambantota Port to the Chinese state owned company. 

The whole programme is expected to see a US$ 1.12 billion investment by CMPort. 

Read more here and here. 

The port deal, which was instigated by the Rajapaksa government and signed this year by the Ranil-Sirisena coalition, sparked criticism from the Sinhala population who accused the government of selling Sri Lankan soil to China. 

 

 

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