Sri Lanka has lost its Sea Port to China for inability to pay off loans borrowed by former president Mr. Rajapaksa.
Since the exit of Rajapaksa, the country has struggled to pay back the laon, a situation it has found itself under a terrible pressure.
When she could not pay the loan, the country handed over the port and 15,000 acres of land around it for 99 years in December.
This is a clear example of how China is taken over Africa and the world using loan.
During the 2015 Sri Lankan elections, China contributed huge amount of monies to the funding of the campaign,
The payments were confirmed by documents and cash checks detailed in a government investigation seen by The New York Times.
Though Chinese officials and analysts have insisted that China’s interest in the Hambantota port is purely commercial, Sri Lankan officials said that from the start, the intelligence and strategic possibilities of the port’s location were part of the negotiations.
Though the deal erased roughly $1 billion in debt for the port project, Sri Lanka is now in more debt to China than ever, as other loans have continued and rates remain much higher than other international lenders.
Mr. Rajapaksa and his aides did not respond to multiple requests for comment, made over several months, Officials for China Harbor also would not comment.