China grants $90M to Sri Lanka after Rajapaksa tells Xi's envoys 'prove not a debt trap'

China on Sunday anunced that it was providing a $90 million grant to Sri Lanka, following latter's request to communist nation. This comes days after President Gotabaya Rajapaksa asked a visiting Chinese delegation, led by former foreign minister Yang Jiechi, to help him in disproving perception that China-funded megaprojects were “debt traps”. 

On October 9, President Gotabaya Rajapaksa said that he wanted to disprove perception that Communist country was funding developmental projects in country to gain "influence in local affairs." 

Critics have expressed ir apprehensions regarding such heavy Chinese-funded projects alleging that y were t "financially viable" adding that Sri Lanka would face difficulties in repaying loans. This, after island nation leased out a Chinese-funded port to a Chinese company for 99 years in order to recover from debt of loan country received to build it.

“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 t case and that this large-scale project will help improve living standards of people. Assist us in this endeavor," Rajapaksa told Chinese delegation, according to a statement released by his office.

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Meanwhile, Chinese Embassy has said that  $90million "timely grant" to Sri Lanka would be used for medical care, education and water supplies in Sri Lanka's rural areas. It would also be directed to improving lives of citizens in a "post-COVID era."

Chinese delegation's visit, led by Communist Party Politburo member comes days after India, US, Japan, and Australia met for second edition of  Quadrilateral Security Dialogue, also kwn as Quad, an informal strategic forum formed to ensure peace and stability in Indo-Pacific along with checking China’s expansionist efforts in region.

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(With ncy Inputs)