China says Sri Lanka loans made "based on consensus"

Tuesday, 03 March 2015 - 13:27

The Chinese Foreign Ministry said China's loans to Sri Lanka were made based on consensus through talks between the two countries and at Sri Lanka's request, after Sri Lanka's foreign minister expressed concern about the loans.

Foreign Affairs Minister Mangala Samaraweera speaking in Beijing over the weekend, said finance minister Ravi Karunanayaka would visit Beijing to discuss the roughly 5 billion dollars owed to China.

Chinese Foreign Ministry spokeswoman said the loans were made on the principle of mutual benefit and would help promote development in Sri Lanka.

President Maithripala Sirisena has unnerved China with his re-examination of certain projects that China has invested in, including a 1.5 billion dollar "port city" in Colombo.