China will sign extended agreements with Sri Lanka for the development of expressways and highways during Chinese President Xi Jingping’s visit to Sri Lanka in mid September, Export and Import Bank of China Deputy General Manager Lei Wentao said.
Wentao who is attached to the bank’s Corporate Banking Department said the signing of agreements with Sri Lanka will show the Chinese government’s commitment towards development of infrastructure facilities in Sri Lanka.
The Deputy General Manager addressing a group of journalists from Sri Lanka and Pakistan who visited the Bank headquarters in Beijing last week, said Exim Bank is funding more than 21 projects in Sri Lanka with a total investment of US$ 1.6 billion.
“Most of these projects concern construction of ports, highways, redevelopment of roads and the shipping industry,” he said.
Wentao was impressed with the massive investments made by Sri Lanka in the infrastructure development sector which is key to social and economic development of the country.
“The Sri Lankan government has invested massively in construction, power and energy, transport and water supply projects during the last decade,” Wentao said.
“These projects have successfully fulfilled the requirements of the Sri Lankan market,” he added.
He was of the view that most of the projects have helped towards the social and economic development of Sri Lanka.