SL signs USD 500M loan agreement with China Development Bank
The Sri Lankan Government has signed a loan agreement for U.S. Dollars 500 million with the China Development Bank today (12).
The Embassy of Sri Lanka in China mentioned in a press release that Ambassador Dr Palitha Kohona signed the loan agreement on behalf of the Government.
The funds are expected to facilitate rapid economic recovery for Sri Lanka following the setbacks experienced via the COVID-19 pandemic.
Ambassador Kohona expressed his gratitude to the China Development Bank for the loan agreement and emphasised that the move would result in investor confidence in the Sri Lankan economy.
The 500 million USD is a part of a one billion loan, out of which 500 million USD was released last year.