SL seeks US$ 2.5B from China

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Sri Lanka has requested a loan of  US$ 1 billion and a US$ 1.5 billion credit line from China, amidst the former’s current financial crisis.

Since 2020,  China has granted USD 2.8 billion as financial aid to Sri Lanka, including a US$ 1.5 Billion swap agreement, Chinese Ambassador in Colombo Qi Zhenhong said.

While the request for further assistance is being considered and negotiations are underway, Zhenhong assured that China would not exploit Sri Lanka’s current crisis, owing to the longstanding historical ties between the two nations.

Moreover, the Ambassador noted that while Chinese projects in Sri Lanka have created over 11,00 job opportunities, nearly 43 Chinese companies have signed agreements to invest in business within the industrial zone in Hambantota.