Sri Lanka Leases White Elephant Airport Built With Chinese Loans

File image of the The Mattala airport in Sri Lanka. Image via the Australian Department of Defense.

Sri Lanka said Friday it had leased a white elephant international airport built with Chinese loans to a foreign joint venture as the island nation’s bankrupt government seeks to offload loss-making assets.

The small airport near a wildlife sanctuary on the southern coast opened in 2013 but was immediately plagued by problems and has been a running sore on state coffers since.

  • Get a daily email packed with the latest China-Africa news and analysis.
  • Read exclusive insights on the key trends shaping China-Africa relations.
  • Full access to the News Feed that provides daily updates on Chinese engagement in Africa and throughout the Global South.

China, Africa and the Global South... find out what’s happening.

Subscribe today for unlimited access.

OR

Already a subscriber? Log in Click Here to Learn More
by Agence France-Presse

Most Read

1
Developing Countries’ Debt Servicing Costs to China Are Significant, but Nowhere Near as Much as Other Creditors
2
China, U.S. Ink Rare Earth Deal; More Trade Pacts Coming
3
Rubio to Welcome Asian ‘Quad’ Back to Washington
4
Chinese-Moroccan Joint Venture Inaugurates EV Battery Parts Plant
5
Asian Infrastructure Investment Bank Appoints “Tiger-Fighter’ as New Leader
6
Six Million Donkeys Slaughtered for Chinese Medicine: Charity

You Might Like

Amid an Unprecedented Debt Crisis, Nigeria’s House of Reps Approves $23 Billion of New Loans — Mostly From China

Nigeria’s House of Representatives approved a request by President Mohammadu Buhari to borrow an additional $22.7 billion from international creditors.  Tuesday’s House vote follows earlier approval by the Senate.

See What Happens When You Start to Talk Openly and Honestly About Chinese Debt?

Last week the Nigerian Debt Management Office (DMO) published a refreshingly simple and transparent summary of the country’s borrowing from China that included detailed information on how much the country owes, ...

Uganda’s Finance Minister Grilled by Parliament Over Chinese Airport Construction Loan, Apologized for Oversights

Uganda’s Finance Minister Matia Kasaija apologized to parliament last week for the mishandling of the $207 million loan from the China Exim Bank to expand Entebbe International Airport. “I apologize that we shouldn’t have ...

Museveni is Now China’s Most Forceful Advocate in Africa

Uganda President Yoweri Museveni this week strongly defended his government’s decision to take large Chinese loans, pushing back against his critics by claiming that his government really doesn’t have any other choice but ...

What is The China-Global South Project?

Independent

The China-Global South Project is passionately independent, non-partisan and does not advocate for any country, company or culture.

News

A carefully curated selection of the day’s most important China-Global South stories. Updated 24 hours a day by human editors. No bots, no algorithms.

Analysis

Diverse, often unconventional insights from scholars, analysts, journalists and a variety of stakeholders in the China-Global South discourse.

Networking

A unique professional network of China-Africa scholars, analysts, journalists and other practioners from around the world.

More about CGSP