China to give $989 million to build new highway in Sri Lanka
(WorldNews China)

COLOMBO, Sri Lanka (AP) - China has agreed to provide a loan of $989 million to Sri Lanka to build an expressway that will connect the island nation`s tea-growing central region to a China-run seaport on the southern coast, the island`s finance ministry said Friday. The Export-Import Bank of China has agreed to provide a loan covering 85 percent of the contract price for Central Expressway Project - Section 1, whose total cost is $1.16 billion. The loan is the single largest loan approved by the bank for Sri Lanka, according to a statement from the...