Mar 22, 2020

SL to get another US$ 700 m from China

Cabinet spokesman and minister - Bandula Gunawardane said Sri Lanka would receive another US$ 700 million in May as a concessionary loan from China Development Bank.

This loan would be obtained in addition to US$ 500 million announced recently.

He said the country would receive US$ 1.2 billion in this manner and will able to use it for infrastructure development, budgetary support and debt servicing.

He said there would be a 3-year grace period to repay this loan.