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International relations

China offers Sri Lanka a lifeline as critics question cost

Yearlong talks yield $500m loan thought to carry 'geopolitical conditions'

Signs advertise Colombo Port City: The development is said to give Beijing sweeping powers to oversee projects for the financial hub worth $1.4 billion. (Photo by Yuji Kuronuma)
MUNZA MUSHTAQ, Contributing Writer | Sri Lanka

COLOMBO -- China appears to be tightening its strategic grip on Sri Lanka, wooing the debt-ridden South Asian nation with a fresh $500 million loan as Colombo wrestles with a deepening economic crisis.

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