Military Space News
SUPERPOWERS
Sri Lanka PM says China to develop strategic infrastructure
Sri Lanka PM says China to develop strategic infrastructure
by AFP Staff Writers
Colombo (AFP) Mar 27, 2024

Sri Lanka's prime minister said Wednesday that China has pledged to develop the island nation's strategic deep sea port and the capital's airport after talks with his counterpart in Beijing.

Prime Minister Dinesh Gunawardena said China -- the island's biggest bilateral creditor -- would "assist" Sri Lanka's restructuring of external debt, a key condition to maintaining a $2.9 billion IMF bailout.

Beijing's position on debt restructuring has not been made public, but Sri Lankan officials have said China was reluctant to take a haircut on its loans but could extend the tenure and adjust interest rates.

Sri Lanka in 2022 ran out of foreign exchange to finance essential imports and declared a sovereign default on its $46 billion foreign debt.

Months of protests forced then-president Gotabaya Rajapaksa out of office.

Gunawardena's office said Premier Li Qiang had promised China would "assist Sri Lanka's debt restructuring process continuously and help Sri Lanka to develop its economy".

Gunawardena said Beijing had offered "assistance to develop" Colombo International Airport and Hambantota port, the statement added, without giving further details.

A Japanese-funded expansion of Colombo airport had been on hold since Sri Lanka's sovereign debt default.

The southern sea port of Hambantota was handed to a Chinese state-owned company in 2017 on a 99-year lease for $1.12 billion, sparking security concerns in Beijing's regional rival India.

India and the United States are both concerned that a Chinese foothold at Hambantota, on the island's southern coast, could boost its naval advantage in the Indian Ocean.

Sri Lanka has insisted its ports will not be used for any military purposes, but New Delhi has objected to Chinese research vessels calling at Hambantota fearing that they could be used for espionage.

Related Links
Learn about the Superpowers of the 21st Century at SpaceWar.com
Learn about nuclear weapons doctrine and defense at SpaceWar.com

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
SUPERPOWERS
NATO commitment to Poland, 'ironclad' says US; Russian Polish envoy ignores summons
Washington (AFP) Mar 25, 2024
The United States stressed Monday its NATO commitment to Poland was "ironclad" after its ally said that a Russian missile had breached its airspace. "Our commitment to NATO and the security of our NATO allies, which of course includes Poland, is ironclad and it will not waver," State Department spokesman Matthew Miller told reporters. ... read more

SUPERPOWERS
Germany Boosts Air Defense with $1.2 Billion Purchase of RTX's Raytheon Patriot Systems

General Atomics Partners with Lockheed Martin for Next-Gen Missile Tracking Satellites

US approves $3.5 billion in missile sales to Poland

BAE Systems to pioneer ground system for Space Force's missile defense upgrade

SUPERPOWERS
Five injured in Russian missile attack on Kyiv

Missile Intercept Marks Milestone for Raytheon's LTAMDS in Army Testing

Ten wounded in Russian missile attack on Kyiv

European Commission Backs Funding for Ramp-up of MBDA's Enforcer Missile Production

SUPERPOWERS
Black Sea fleet unleashes waves of drones on Ukraine after strike on Russian navy

Cheap drones 'cannot match' artillery power in Ukraine: experts

Russian strikes kill 20, including rescuers, in 'vile' Odesa attack

Italian warship shoots down two drones in Red Sea

SUPERPOWERS
Eutelsat and Intelsat forge $500M partnership to expand OneWeb constellation

Satellites for quantum communications

Antaris and SpeQtral Unveil Quantum Encryption Satellite Collaboration

L3Harris Delivers Next-Gen SATCOM Solutions to US Army

SUPERPOWERS
US says Israel has made assurances on use of weapons

Germany, France cite 'breakthrough' on battle tank project

US approves $2.2 billion sale of battle tanks to Bahrain

Denmark plans to draft women as it seeks to bolster military

SUPERPOWERS
Franco-German defence group KNDS to produce arms in Ukraine

EU states tell bloc's bank to lend more for defence; Russian asset profits to pay for Ukraine

White House warns Kyiv it cannot say when Ukraine aid will come

Kremlin slams Western 'pressure' on Chinese banks over Russia payments

SUPERPOWERS
NATO commitment to Poland, 'ironclad' says US; Russian Polish envoy ignores summons

Blinken says Russia, China 'cynically vetoed' Gaza resolution

Indian PM Modi in Bhutan to shore up ties with eye on China

China's top diplomat meets Australian ex-PM for controversial sit-down

SUPERPOWERS
Researchers unveil novel technique for creating atomically thin nanoscrolls

MIT.nano equipment to accelerate innovation in "tough tech" sectors

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.