Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Israeli media: Reports of two IOF soldiers killed in military vehicle explosion in Rafah.
Israeli media: Israeli soldier killed, another wounded in explosion in Rafah.
Medical sources in West Bank: Palestinian killed by occupation fire; wounded and left to bleed while ambulance crews were barred from reaching him in Al-Ain refugee camp, west of Nablus.
Hamas: Facts on ground reveal opposite of claims, as occupation authorities were ones who armed criminal gangs that practiced murder and kidnapping against people of Gaza.
Hamas: US Department of State's false claims fully in line with Israeli disinformation.
Hamas responds to US claims in statement, fully rejects US claims of "imminent attack" or violation of ceasefire.
Field sources in West Bank: Israeli bulldozers vandalize Palestinian lands northwest of Nablus.
Field sources in West Bank: Settlers attack Palestinian farmers harvesting olives in Nablus.
Field sources in West Bank: Armed Israeli settlers torch Palestinian vehicles near olive groves in Turmus Ayya north of Ramallah.
Israeli PM Office: Netanyahu has ordered that the Rafah crossing will not open until further notice.

China reiterates commitment to financial assistance for Sri Lanka

  • By Al Mayadeen English
  • Source: Agencies
  • 30 Mar 2024 08:49
2 Min Read

The commitment comes after the prime minister of the crisis-hit island nation concluded a visit to Beijing aimed at finalizing a debt restructuring agreement.

  • x
  • Sri Lankan Prime minister Mahinda Rajapaksa right presents a souvenir to Chinese foreign minister Wang before their meeting in Colombo, Sri Lanka, Sunday, January 9, 2022. (AP)
    Sri Lankan Prime Minister Mahinda Rajapaksa (right) presents a souvenir to Chinese Foreign Minister Wang before their meeting in Colombo, Sri Lanka, Sunday, January 9, 2022. (AP)

China has reaffirmed its commitment to supporting Sri Lanka, as the prime minister of the crisis-stricken island nation concluded a visit to Beijing to finalize a debt restructuring agreement.

Prime Minister Dinesh Gunawardena arrived in China on Monday, where he met with President Xi Jinping and participated in the Boao Forum, a significant international gathering. The ongoing economic crisis in Sri Lanka was a key focus of Gunawardena's trip, with China representing approximately 10 percent of the country's total foreign debt.

In the Chinese version of a joint bilateral statement released on Friday, Beijing's Foreign Ministry expressed willingness to "continue supporting its financial institutions to actively negotiate with Sri Lanka, maintain friendly communication with other creditors, play a positive role in the International Monetary Fund, assist Sri Lanka in financial relief." 

The statement also highlighted the agreement between the two sides to "make every effort to promote the Port City Colombo and Hambantota Development Project, turning them into flagship projects of the Sino-Sri Lankan joint construction of the 'Belt and Road'."

Related News

Palestine's economic kingdom: How genocide impacted Nablus

Millions of children in UK going hungry amid economic crisis

Dive deeper 

Former Sri Lankan President Mahinda Rajapaksa's tenure saw the launch of the Hambantota Development Project, which was considered one of the white-elephant projects during his decade-long rule until 2015.

In 2017, unable to repay a substantial loan taken from China for the construction of the Hambantota port, Sri Lanka transferred it to the state-owned China Merchants Group for $1.12 billion under a 99-year lease.

In April 2022, Sri Lanka defaulted on its $46 billion external debt when it ran out of foreign exchange to cover essential imports like food, fuel, and medicine. To address its financial woes, Sri Lanka secured a $2.9 billion bailout from the International Monetary Fund (IMF) last year. However, the IMF program is contingent on reaching a debt agreement satisfactory to foreign creditors.

While China tentatively agreed to restructure Sri Lanka's debt in December, both Colombo and Beijing have yet to finalize the details of an agreement.

Read more: Three more years of Sri Lankan bankruptcy: President

  • economic crisis
  • economy
  • IMF
  • Sri Lanka
  • China

Most Read

Iran strikes secret Israeli-US bunker under Tel Aviv high-rise

Tel Aviv high-rise struck by Iran hid Site 81, secret US-Israeli base

  • Politics
  • 14 Oct 2025
Palestinian journalist Saleh al-Jaafarawi in an undated image in Gaza, occupied Palestine (Social media)

Gaza Palestinian journalist Saleh al-Jafarawi killed by collaborators

  • Politics
  • 12 Oct 2025
drop site

New report details extensive Israeli arson in Gaza after ceasefire

  • Politics
  • 13 Oct 2025
Illustration of fists breaking shackles, representing the liberation of Palestinian detainees from Israeli prisons. (Illustrated by: AL Mayadeen English/Batoul Chamas)

4 prominent Palestinian detainees to be freed: Who are they?

  • Palestine
  • 13 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Iraqi religious leader Sheikh Jawad al-Khalisi on Al Mayadeen Plus, October 18, 2025 (Screengrab)
Politics

Most powerful decision-maker in Iraq is US: Sheikh Al-Khalisi

Flags of Iran, Russia, and China (IRNA)
Politics

Iran, Russia, China confirm: Iran nuclear issue out of UNSC

Member of the Loyalty to the Resistance bloc Ali Fayyad speaks to Al Mayadeen, October 18, 2025 (Screengrab)
Politics

Hezbollah, allies will reject direct talks with 'Israel': MP Fayyad

The bodies of killed Palestinians held by "Israel" during the war are downloaded from Red Cross vehicles after their release, at the Nasser Hospital in Khan Younis, southern Gaza Strip, Oct. 15, 2025. (AP)
Politics

From rubble to graveyards, Gaza continues recovering its martyrs

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS