China is neither the only creditor nor the largest creditor of Sri Lanka. The so-called debt trap theory fabricated by some foreign media outlets is completely untrue, according to Chinese ambassador to Sri Lanka.

"China's loans to Sri Lanka are mainly used for economic development and infrastructure construction, which has provided important support for Sri Lanka to achieve independence and self-reliance and escape the 'development trap. China is concerned about Sri Lanka's current financial crisis and request for financing," Qi Zhenhong, the Chinese ambassador to Sri Lanka, said on Monday during a press conference.

Relevant departments and financial institutions of the two countries will maintain communication on this, he said.

The conference was held to further brief the Sri Lankan media on a recent phone call between Chinese Premier Li Keqiang and Sri Lankan Prime Minister Mahinda Rajapaksa on Friday.

China is ready to play a constructive role in Sri Lanka's stable socio-economic development based on the principle of non-interference in its internal affairs and on the premise of respecting Sri Lanka's will, Li said, according to the Xinhua News Agency.

Li also said that China is ready to provide much-needed humanitarian assistance for Sri Lanka within its capacity.

Over the past two years since the outbreak of COVID-19, China has made the largest contribution to Sri Lanka's fight against the epidemic, economic recovery and supporting standard of living by providing massive epidemic prevention supplies, 26 million doses of vaccines and various kinds of financial support, Qi stated.

Global Times