Govt to receive another US$ 700 million from China in May

22 March 2020 08:03 am - 13     - {{hitsCtrl.values.hits}}

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Higher Education Minister Bandula Gunawardane said Sri Lanka would receive another US$ 700 million in May as  a concessionary loan  from China Development Bank .

The Minister who is also the Cabinet spokesman told Daily Mirror this would be in addition to US $ 500 million announced recently.

He said the country would receive US $ 1.2 billion in this manner for various needs.

“We can use it for infrastructure development, budgetary support and debt servicing ,” he said.

He said there would be  a three - year grace period for the repayment of this loan .(Kelum Bandara)

  Comments - 13

  • DillonDP Sunday, 22 March 2020 08:20 AM

    What a beauty obtaining debt to service debt

    Sam Sunday, 22 March 2020 08:31 AM

    WITH POCKET MONEY OR WITHOUT POCKET MONEY AND HOW MANY SHAREHOLDERS. ANYTHING FOR US. OR YOU ARE PLANNING TO INCREASE THE TAXES. IDEA ???????

    Lankan Sunday, 22 March 2020 08:34 AM

    No Bandula is selling our country to China, thanks to Corona Virus (which was also granted from China).

    Eason Sunday, 22 March 2020 10:11 AM

    How do you know that the virus came from China and not the United States?

    E-Con-Mist Sunday, 22 March 2020 08:38 AM

    Bandula said we cannot borrow any further and now says we have and will receive $ 1.2 b. as a concessionary loan.

    CITIZEN Sunday, 22 March 2020 08:59 AM

    NEW GOVT. NEW LOANS. COURTESY CHINA WHO LENDS UNLIMITED LOANS TO POOR COUNTRIES FOR THEIR VARIOUS ACTIVITIES

    ANTON Sunday, 22 March 2020 09:29 AM

    MAHINDA WILL BUILD MEDAMULLANA MEMORIAL WITH 7 STAR FACILITIES.

    Jayskody c Sunday, 22 March 2020 09:33 AM

    China market his corona virus

    Jaya Sunday, 22 March 2020 09:57 AM

    Great, another part of SL is gone. Soon we will have Air Buddhism! No land will be left to practice. This will be the result for selling Buddhism to gain power.

    ram Sunday, 22 March 2020 11:07 AM

    China should compensate countries that are affected by Chinese Virus which resulted in lock down of most countries in the world.

    PRADEEP Sunday, 22 March 2020 11:23 AM

    Great news. Have you ever heard you borrow money to pay interest?. In 3 months if you borrow $1.2 billion this rate by end of this year the borrowing will be around $2 billion. Very soon the whole Sri Lanka will be controlled by China. Bandulla people will vote for SLPP

    venom Sunday, 22 March 2020 12:17 PM

    What the hell ! 'Ravla gini aran inna welawe suruttu pathu karanawa'

    vithura Sunday, 22 March 2020 05:28 PM

    together with more corona infections, thanks to China for their generosity!


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