Dec 29, 2021

PM requests more time to repay Bangladesh loan Featured

Sri Lanka has requested an additional three months' grace period to repay the $ 200 million financial assistance received from Bangladesh.

According to MP Harsha de Silva, the Prime Minister of Bangladesh Sheikh Hasina has agreed to the request made by the Prime Minister Mahinda Rajapaksa.

Bangladesh provided this financial assistance to Sri Lanka in three phases last August.

This financial facility was provided to Sri Lanka by the Bank of Bangladesh.

Sri Lanka is currently facing a severe economic crisis and the official reserve has dropped to US $ 1.5 billion.

Despite Sri Lanka's official foreign reserves declining in the wake of the Covid epidemic, Bangladesh's foreign reserves continue to rise and is currently at US $ 46.3 billion.

Sri Lanka was also the first country to receive a loan from Bangladesh under this exchange system.