China on Tuesday said it has funded and built the first new rail line in post-independent Sri Lanka, adding that the Belt and Road Initiative (BRI) project will boost regional economic development. Inaugurated on Monday, the 26.75-km railway extension connecting Matara and Beliatta in southern Sri Lanka was constructed by the China Railway Group 5 (CR5) and financed by the Export-Import (Exim) Bank of China. Sri Lanka became independent in 1948. The new rail segment will be a boost to Sri Lanka’s regional transportation, he said. “But I can tell you that under the BRI, China encourages companies to engage in cooperation with other countries,” he said.

Source: Hindustan Times April 09, 2019 11:33 UTC