China provides assistance to Sri Lanka's economic, social development: FM spokesperson

BEIJING, Oct. 10 (Xinhua) -- As Sri Lanka's friend and neighbor, China follows closely the difficulties and challenges facing the country and has been doing what it can to assist in Sri Lanka's economic and social development, a Chinese Foreign Ministry spokesperson said on Tuesday.

Spokesperson Wang Wenbin made the remarks at a regular press briefing when asked about China's assistance to Sri Lanka's debt restructuring and the progress of bilateral debt treatment.

Since last year, China's relevant financial institutions have been in close touch with Sri Lanka on the debt issue involving China, engaged in active bilateral consultations and provided a financing support document to Sri Lanka in a timely manner to help it obtain loans from the IMF, Wang said.

He said Chinese financial institution has taken part in all the creditors' meetings as an observer and maintained friendly communication with other creditors to share with them the progress of the debt treatment.

In late September, as official creditor, the Export-Import Bank of China tentatively agreed with Sri Lanka on the debt treatment, according to Wang.

"We are also glad to see that other creditors are having discussion with Sri Lanka as well over solutions to its debt issue," Wang said.

"We will continue to support Chinese financial institutions in actively consulting with Sri Lanka," Wang said, adding China is ready to work with relevant countries and international financial institutions to jointly play a positive role in helping Sri Lanka navigate the situation, ease its debt burden and achieve sustainable development.

"We call on multilateral institutions and commercial creditors to take part in Sri Lanka's debt restructuring based on fair burden-sharing," Wang added.