Tue, 25 Jan 2022 Today's Paper

SL signs USD 500 million loan agreement with CDB

13 April 2021 12:00 am - 0     - {{hitsCtrl.values.hits}}

A A A

  • This loan will infuse vitally required foreign exchange into SL’s economy

Sri Lanka yesterday signed a USD 500 million loan agreement with the China Development Bank (CDB) yesterday, Sri Lankan Embassy in China said.  

Ambassador Dr. Palitha Kohona, on behalf of the Government of Sri Lanka, signed the agreement.  
“This loan will infuse vitally required foreign exchange into the Sri Lanka economy. These funds will help with Government efforts to facilitate rapid economic recovery following the setbacks caused by the Covid-19 pandemic,” a statement issued by the Embassy said.  


After the signing ceremony, Dr. Kohona stated that the timely assistance from China in providing these funds will help fuel Sri Lanka’s recovery efforts and stimulate growth and that this loan will encourage investor confidence in Sri Lanka and strengthen the currency.  


“China, as a loyal friend and reflecting the depth of our friendship, has been generously extending its helping hand to Sri Lanka when difficult challenges confronted us. Two weeks ago, China’s gift of 600,000 Covid-19 vaccines were air freighted to Sri Lanka adding to our vaccine stock,” the Ambassador said.  


He welcomed further cooperation on trade, investment, tourism, education, sports and other areas.  
“We expect more Chinese tourists to visit Sri Lanka in the post Covid-19 period with the prospect of travel restrictions being relaxed in the near future”. Dr. Kohona said that we were in discussion with Chinese producers with a view to shooting a tourism-oriented movie in the near future. The Mission was also holding talks to improve access to Sri Lankan exports to the lucrative market while encouraging increased MI flows to Sri Lanka. All these would assist our economy to recover in the shortest period, Dr. Kohona stated.  


This USD 500 million loan was a part of USD 1 billion, out of which USD 500 million was released last year. Previously, the Mission had worked closely with Chinese counterparts to secure these funds.  

 

  • The Mission was also holding talks to improve access to Sri Lankan  exports to the lucrative market while encouraging increased MI flows to  Sri Lanka
See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.