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CHEC+rejects+%E2%80%9Celection-funding%E2%80%9D+allegation
Thursday, 05 July 2018 - 13:42
CHEC rejects “election-funding” allegation
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China Harbour Engineering Corporation says that the speculation by an international media organization that CHEC funded former President’s 2015 Presidential Election campaign is completely inconsistent with the facts.
 
The firm had said that the construction of the Hambantota Port by CHEC was an important national task based on mutual agreement between Sri Lanka and China Governments, and was implemented under a transparent model.
 
The CHEC stressed that it has never been involved in the internal affairs of Sri Lanka.
 
These details were mentioned in a media communique which was issued following a joint media conference held at the Chinese Embassy.





Meanwhile, the Spokesperson of the Chinese Embassy in Sri Lanka said that Chinese loans are not the main part of Sri Lanka's foreign debt.

Quoting the Annual Report 2017 of the Central Bank of Sri Lanka, he said the total external debt of the Island country counts US dollars 51.824 billion, among which outstanding Chinese loans takes up only about 10.6% with the amount of USD 5.5 billion.

He added that besides, 61.5% the Chinese loans (USD 3.38 billion) are concessional ones with a much lower interest rate than the international market.




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