by Dimuthu Attanayake in SCMP, Nov 20, 2023For years, several China-linked projects in Sri Lanka have come under fire for being “white elephants” that have failed to contribute significantly to its economy, but a free-trade agreement between both countries, policy revamp and more involvement by joint ventures could turn the tide, analysts say. Among the underperforming projects are the Mattala Rajapaksa International Airport (MRIA), built with US$191 million financing from the Exim Bank of China;…
Posts tagged as “elephant”
Edit in Ceylon Today, March 21, 2023If the Sri Lankan Government is notorious for one thing, that is to maintain ‘white elephants’. From Provincial Councils with a hefty -maintenance cost and a questionable efficiency to ever-expanding ministries, Government institutes, that run constantly at losses and to a few establishments that hardly make any profit at all, there are lots of Government ventures that give nothing in return to drawing tax payers’ money to merely exist.…
By Stuart Heaver in Aljazeera, 17 Feb 2023Colombo – As far as many residents of Sri Lanka’s capital are concerned, the last thing their island nation needs in the midst of its worst-ever economic crisis is another beach – the island nation’s 1,340km coastline is blessed with some of the most beautiful beaches in the world. Yet, Port City Colombo (PCC), a vast new Chinese-built reclaimed commercial zone in Colombo, recently unveiled an artificial beach…