China has declined to give loan of $500 million US dollars requested by the SL govt, it is reported.
The loan was to procure petroleum products.
The loan was rejected on the basis of the Chinese govt policy of giving projects loans based on commercial viability.
China at present has given over a billion US dollars in loans
Mattala Airport, Hambantota Harbour, Moragahakanda Irrigation project are some of the enterprises undertaken with Chinese loans