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Sri Lanka will hold a 51 per cent-stake in the project and the joint venture partners will retain 49%.

The SLPA then termed the “envisaged Japanese loan” as “one of the best loan terms Sri Lanka has obtained”.

The recent US declaration that Sri Lanka wouldn’t be accommodated in the MCC Compact is unlikely to be the end of the US efforts to bring Sri Lanka under its control.

Having accused China of promoting corruption here, the yahapalana administration ended up handing over the Hambantota Port on a 99-year lease to China.

With US-China hostility on the rise, Sri Lanka shouldn’t expect breathing space from either party.

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