Sri Lanka and China signed a Financial Facility Agreement

File Photo File Photo

COLOMBO, 13 April, 2021 (TON): On Monday, the Government of Sri Lanka and the China Development Bank signed a USD 500 million Financing Facility Agreement to facilitate rapid recovery of the economy affected by the pandemic.

In Beijing, Ambassador of Sri Lanka Dr. Palitha T.B. Kohona signed the loan agreement to the People’s Republic of China on behalf of the Government of Sri Lanka and Wang Wei, Deputy Director General, China Development Bank on behalf of the China Development Bank.

The Finance Ministry said, the USD 500 million will be disbursed, during this week.

It added, the facility has been made available, on a request made by the Government of Sri Lanka to the Chinese Government and the China Development Bank to support the country’s development efforts.

However, the loan is the second tranche of the total RMB 2 billion plus USD 1 billion Foreign Currency Term Financing Facility (FTFF) supported by the Chinese side to Sri Lanka after the outbreak of COVID-19 pandemic.

 

Rate this item
(0 votes)

Leave a comment

Make sure you enter all the required information, indicated by an asterisk (*). HTML code is not allowed.

Go to top