SRI LANKA LEADER: CHINA MUST SHOW ITS LENDING ISN’T A DEBT TRAP

Sri Lanka President Gotabhaya Rajapaksa has asked visiting Chinese leaders to assist him in disproving a perception that China-funded megaprojects are "debt traps" aimed at gaining influence in local affairs, Mainichi Shimbun reported.

Rajapaksa made the request to the delegation led by Yang Jiechi, a Communist Party Politburo member and former foreign minister. China considers the Indian Ocean island nation to be a critical link in its massive "Belt and Road" global infrastructure building initiative and has provided billions of dollars in loans for Sri Lankan projects over the past decade. The projects include a seaport, airport, port-city, highways and power stations.

During their talks, Rajapaksa hailed Chinese assistance in upgrading infrastructure facilities and said the seaport in the island's south had been proposed by the Sri Lankan government and funded by China.

"Many geopolitical analyses interpret this project as a 'debt trap' set up by China to gain control over Sri Lankan affairs. I want to prove that it is not the case and that this large-scale project will help improve the living standards of the people. Assist us in this endeavor," Rajapaksa told the delegation.