China Vows Continued Support for Sri Lanka's Debt Sustainability

COLOMBO (News1st); The Chinese Foreign Ministry Spokesperson Lin Jian said China is ready to continue providing assistance to Sri Lanka’s socio-economic development, supporting the country’s debt sustainability.

Spokesperson Lin Jian responded to a question by reporters on the progress of reaching a final agreement between Sri Lanka and China's Exim Bank and the China Development Bank.

He said: "Chinese side has been providing assistance to Sri Lanka's socioeconomic development to the best of our capability. We stand ready to continue to work with relevant countries and international financial institutions to support Sri Lanka’s debt sustainability."

The question came after Sri Lanka and China concluded the 13th round of diplomatic consultations in Beijing, with the participation of Secretary of Foreign Affairs of Sri Lanka Aruni Wijewardane and Vice Minister of Foreign Affairs of the People's Republic of China Sun Weidong.

Sri Lanka and China concluded their 13th round of diplomatic consultations on Monday, with the primary focus on Sri Lanka's crippling debt burden.

While the talks aimed at securing financial assistance, no concrete announcements were made regarding final loan agreements with either China Exim Bank or China Development Bank.

According to the President's Media Division, President Ranil Wickremesinghe has expressed hope to reach an agreement with creditor nations in the next few weeks.