Beijing: China on Thursday defended its large infrastructure ventures and investments in crisis-hit Sri Lanka and stated that they’ve “boosted’ its financial improvement, amid criticism from the US of Beijing’s unproductive tasks and opaque mortgage offers among the many causes for the nation’s chapter. “The China-Sri Lanka sensible cooperation has at all times been led by Sri Lanka with scientific planning and thorough verification with no strings connected,” spokesman Zhao Lijian stated.
“Chinese language tasks have boosted Sri Lanka’s financial improvement, and introduced tangible advantages to the Sri Lankan folks,” he stated whereas responding to a query on the criticism of China’s tasks and insurance policies in direction of Sri Lanka by USAID administrator Samantha Energy. Talking in New Delhi on Wednesday, Energy stated India reacted swiftly to assist Sri Lanka tide over its financial disaster, however calls to China went unanswered. She stated China turned considered one of Sri Lanka’s “largest collectors” providing usually “opaque mortgage” offers at excessive rates of interest.
Refuting her claims, Zhao stated “there are a number of elements to Sri Lanka’s international debt, the place China-related money owed take far much less share than the worldwide capital market and multilateral improvement banks.” “Apart from… China offers Sri Lanka nearly preferential loans with low-interest charges and lengthy phrases,” he stated.
He additionally sought guilty US insurance policies, together with rate of interest hikes, unilateral sanctions and big stimulus insurance policies, saying that they had critically impacted many creating nations like Sri Lanka. PTI
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