Government to raise a Foreign Currency Term Financing Facility up to USD 500 million in 2020
Posted on June 17th, 2020
Courtesy Hiru News
Government intends to raise a Foreign Currency Term Financing Facility up to a limit of USD 500 million in 2020, to finance the budget according to the Finance Ministry.
The Government of Sri Lanka (GOSL) intends to raise a Foreign Currency Term Financing Facility (FTFF) denominated in United State Dollars (USD) up to a limit of USD 500 million in 2020.
The FTFF is expected to be raised at a fixed rate or a floating rate, linked to the USD 6 Month LIBOR or its successor with a maturity period of 1 year or more. The proceeds of the FTFF will be used for the purposes of financing the expenditure as approved in the Vote on Account for the Fiscal year 2020