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Line 188: − :{{See also|Belt and Road Initiative}}+ +
→Belt and Road Initiative
==Belt and Road Initiative==
==Belt and Road Initiative==
{{See also|Belt and Road Initiative}}
[[File:Sri Lanka debt.png|right|350px|thumb|Most of Sri Lanka's external foreign debt is held by [[Western alliance|Western]] institutions with 10% held by China.<ref>https://thediplomat.com/2020/05/the-belt-and-road-in-sri-lanka-beyond-the-debt-trap-discussion/</ref>]]
Sri Lanka is fast becoming the pivot of rising Chinese naval presence in the Indian Ocean Region, in that, China also has a substantial controlling stake in the Hambantota port, with Colombo agreeing to grant Chinese state-owned companies operating rights to as many as four berths in exchange for an easing of loan conditions. Besides, there are unconfirmed reports of construction of a Chinese-run aircraft maintenance facility near Hambantota in order to service the [[Peoples Liberation Army]] [[Air Force]] (PLAAF) assets based in Sri Lanka. In neighboring Pakistan, the docking of a Chinese submarine in [[Karachi]], following the handing over of the port's operational control to China Overseas Port Holdings is another step towards consolidating Chinese permanent naval presence in South Asia.
Sri Lanka is fast becoming the pivot of rising Chinese naval presence in the Indian Ocean Region, in that, China also has a substantial controlling stake in the Hambantota port, with Colombo agreeing to grant Chinese state-owned companies operating rights to as many as four berths in exchange for an easing of loan conditions. Besides, there are unconfirmed reports of construction of a Chinese-run aircraft maintenance facility near Hambantota in order to service the [[Peoples Liberation Army]] [[Air Force]] (PLAAF) assets based in Sri Lanka. In neighboring Pakistan, the docking of a Chinese submarine in [[Karachi]], following the handing over of the port's operational control to China Overseas Port Holdings is another step towards consolidating Chinese permanent naval presence in South Asia.