Government signs USD 500 Mn. loan agreement with China

COLOMBO (News 1st): The Sri Lankan Government has signed a loan agreement for 500 Million USD with the China Development Bank today, which will be disbursed this week. Issuing a statement, the Sri Lankan Embassy in China said Ambassador Dr. Palitha Kohona signed the agreement representing the Government of Sri Lanka. The Embassy said the loan would infuse vitally required foreign exchange into the Sri Lankan economy, adding that the funds will help with Government efforts to facilitate rapid economic recovery following the setbacks caused by the COVID-19 Pandemic.