China to provide aid worth USD 1.5 bn to Sri Lanka

China will provide aid worth USD 1.5 billion to Sri Lanka to improve its infrastructure, which was badly damaged during the 30-year-old civil war with LTTE.

Updated: Jun 23, 2011, 22:14 PM IST

Colombo: China will provide aid worth USD
1.5 billion to Sri Lanka to improve its infrastructure, which
was badly damaged during the 30-year-old civil war with LTTE.

The fund will be used within three years for the
construction of roads, bridges, water supplies, irrigation and
power project, Cabinet spokesman Anura Yapa said here today.

The Cabinet had approved the move to sign a MoU with
the China Development Bank for the purpose, Yapa said.

External Affairs Minister G L Peiris on Tuesday said
that the government was looking forward to renewed cooperation
with China in pursuance of President Mahinda Rajapaksa`s
meeting with Chinese President Hu Jintao at St Petersburg,
Russia last week.

Chinese have extended extensive funding support to Sri
Lanka in recent years. The biggest of them are the new port
and airport being built in Hambantora, Rajapaksa`s home base.

PTI