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Posts tagged as “revamp”

China-backed ‘white elephant’ projects in Sri Lanka dent investor confidence amid calls for policy revamp

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;…