Sri Lanka, China sign USD 500 Mn agreement for development funding
Posted on March 18th, 2020

Courtesy Adaderana

Sri Lanka and China Development Bank have signed an agreement for a financing facility of US$ 500 million for development efforts.

Earlier, Senior Deputy Governor of Central Bank of Sri Lanka, Nandalal Weerasinghe stated that the Government is in the middle of negotiating a loan from the China Development Bank, which could be between $ 1-2 billion.

The loan could be finalized within weeks, and the loan would be within the borrowing limits approved in a vote on account up to April,”  he said whilst addressing the media during a press briefing in Colombo on 5 March 2020.

During the meeting, it was also disclosed that after the conclusion of the 25 April General Elections, via a proper 2020 Budget, there will be a borrowing plan for next year and even for the second half of this year.

Sri Lanka has to repay a total of $ 4.8 billion this year, with the next large payment of $ 1 billion due in September.

One Response to “Sri Lanka, China sign USD 500 Mn agreement for development funding”

  1. Hiranthe Says:

    The other article about UK says “Confirmed cases in the UK rose to 2,626 on Wednesday, from 1,950 on Tuesday” which is 670 cases in a day.

    Thank God we have Gota in the driving seat. We still have 50 confirmed cases. He is tackling this issue similar to the way they handled deadly LieTTE virus which killed more people than all the death toll in the world due to Covid-19.

    If Yahapalana crooks were still ruling, MCC would have been activated by now. Aim will be to allow spread the Corona virus to villages and to get rid of millions. US will pay big money the hooligans who carry the virus to the masses. We have two good examples of the hooligans who came from Italy recently.

    Land grab project of US can go ahead smoothly. Their soldiers will be moving around with vaccinations given to them because US knows the cure for their own virus.

    China will not come forward to help rescue Sri Lanka’s monitory situation. They won’t care.

    How things changed is unbelievable in the right time. This is an evidence of the intervention of the divine powers who look after this blessed Island.

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