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Wednesday, 27 June 2018 - 9:04
China cough up Hambantota Port through loans says New York Times
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The New York Times in an article says China has managed to take over the Hambantota Port operations using its financial assistance as a tool.
 
It said although feasibility studies said the port wouldn’t work and though other frequent lenders like India had refused, China came forward to assist the port construction, knowing it would put Sri Lanka in a debt trap.
 
The article also revealed that the Chinese firms funded Sri Lanka election campaigns.
 
It added that the Chinese authorities have realized the strategic importance of the Hambantota Port and they coughed it up through loans.  


New York Times article:
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