Chinese rice stock arriving in two weeks – Trade Ministry

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By Sulochana Ramiah Mohan 

The Ministry of Trade said, it will receive 2,000 MT of rice in food aid from China in two weeks and will be distributed to low income families in the country.

The Chinese Embassy said, the rice shipment is worth USD 2.5 million.

The rice aid comes as Sri Lanka seeks a new loan and buyer’s credit from China of USD 2.5 billion amid the worst economic crisis in the island’s history.

Recently, Chinese Ambassador to Sri Lanka Qi Zhenhong said the request is a loan of USD 1 billion and a credit line of USD 1.5 billion. It came after India awarded its loan facility of USD 1 billion line of credit signed recently with the Government.  

China said it has already awarded  Sri Lanka USD 1 billion term loan facility, RMB 2 billion (USD 300 million) term loan facility, RMB 10 billion (USD 1.5 billion) currency swap since Covid-19 broke out in Sri Lanka.