The United States announced that it will grant Sri Lanka with $39 million as military funding to enhance its maritime security. China has developed various strategic holds on the island of India Ocean, which may threaten Sri Lanka.
In regards to the congressional approval, the US embassy in Colombo said that the State departments will offer funds as “foreign military financing.” It continued that “we look forward to discussing with the government of Sri Lanka how this contribution can support our Bay of Bengal initiative and Sri Lanka’s humanitarian assistance and disaster response priorities.”
When the mater comes to the second-largest economic country China, invests raised in Sri Lanka ports and other building projects. It is an acknowledged as a key link, in its determined infrastructural initiative as “Belt and Road”
The Central Bank of Sri Lanka, last week expressed that it had acquired $1 billion in loans from China as the islands developed good relations with the Beijing.
The US has already stopped arms selling to Sri Lankan during the time of Tamil island separatist war, which ended in the year 2009. In a human-rights record, the global power was crucial of the former President Mahinda Rajapakse.
Senior military ministers from the Rajapakse have also been denied visas to visit the United States. Sri Lanka’s funding is a part of $300 million packages with Washington is setting away from Southeast and South Asia to ensure a “free, open and rules-based order in the Indo-Pacific region.”
China offered financial support to Sri Lanka, which includes loans. Despite the warnings regards to the island’s mounting debt.
Last year, Sri Lanka was permitted with a 99-year lease on a straight port of Beijing over the inability for repaying loans of China for the $1.4 billion project.
The Hambantota port straddles the world’s busiest shipping route of east-west and also offered a strategic foothold to China, which is dominated by India for a long period.
The International Monetary Fund that bailed out Sri Landa in last to last year’s June with $1.5 billion staggered loan. It has already warned Colombo over the country’s heavy debt.