Sri Lanka and China have signed three framework agreements amounting to $410 million under which Beijing will provide concessional funding for several projects in Sri Lanka, including the second international airport at Mattala.

A Sri Lankan team led by Secretary to the Treasury Jayasundera is on a three-day official visit to China.

The statement said an annual granting agreement was also signed with the Commerce Ministry of China to the value of $7 million.

As per the release, Dr. Jayasundera apprised Chinese Vice-Minister Chen Jian of the progress achieved in the fields of power, ports and highways as well as construction and development initiatives, particularly in the northern and eastern regions.

“He further briefed Chinese officials that it is the intention of the government of President Rajapaksa to speed up reconstruction efforts, especially the construction of roads and railroads, to link the North and South which would contribute to improving the living conditions and livelihoods of the people in those provinces.

Mr. Chen indicated further development assistance to improve the general living standards as well as to achieve a higher growth rate in Sri Lanka. The Sri Lankan delegation also held discussions with the Finance Ministry of China, and assessed the progress of ongoing projects with Chinese Contractors,” it said.