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China gives Sri Lanka RMB600mn grant after Yang Jeichi visit

ECONOMYNEXT – China is giving a 600 million yuan grant for health care and water supply in rural areas, following the visit of politburo member and ex-Finance Minister Yang Jeichi, the embassy of the country in Colombo said.

The agreement was signed between Chairman of China International Development Co-operation Agency (CIDCA) Wang Xiaotao and Sri Lanka’s Treasury Secretary S R Attygalle.

“..[T]he grant from the Chinese government had her people will be utilized with a high priority on medical care, education and water supply …in rural areas of Sri Lanka,” the statement said.

Progress of National Nephrology Hospital in Polonnaruwa and a new out patient department in National Hospital in Colombo was also reviewed, the statement said.

A joint statement after visit said both sides had also agreed to speed up the implementation of 3.0 billion dollars in foreign direct investment.

Colombo Port City, China’s 1.5 billion dollar sea reclamation, and a billion dollar tower project is awaiting the passage of a special economic zone law and tax concessions to progress. (Colombo/Oct11/2020)