COLOMBO, May 22: China Development Bank Corporation will lend $580 million to Sri Lanka to help implement key infrastructure projects, a government document released on Wednesday showed.

The loan will bring CDB’s total lending to Sri Lanka to more than $1.4 billion. China’s increasing influence in the island nation has stoked concerns in neighbouring India.

According to the document, $300m of the loan will be spent on developing roads and $200m on water supply projects, with the rest going to the national business school.

It said CDB had already extended $652m for road development projects and $214m for an irrigation project. The loan announcement comes ahead of a four-day official visit to China by Sri Lankan President Mahinda Rajapaksa.—Reuters