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Chinese loan and currency swap arrangement on the way

5 March 2021 09:48 am - 17     - {{hitsCtrl.values.hits}}

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China will endorse a US $ 500 million loan and a currency swap arrangement of two billion Yuan (around US $ 600 million) within the next couple of weeks, informed sources said.

Sri Lankan ambassador to China Dr. Palitha Kohona held talks with Chinese Vice Foreign Minister Luo Zhaohui on Wednesday and discussed bilateral cooperation covering a wide range of areas. Sri Lanka has sought financial cooperation from China.

Mr. Luo oversees China’s relations in the Asian region. According to a sources, the US $ 500 million is to be approved by the Bank of China within the next two weeks. Besides, the currency swap facility will be approved by People’s Bank of China which is the central bank of that country.

China also asserted once again that it would stand by Sri Lanka at the United Nations Human Rights Council (UNHRC).

Also, Dr, Kohona and the Vice Minister discussed the expedition of the Free Trade Agreement (FTA) between the two countries. The FTA negotiations were launched during the 2010/2015 government led by Mahinda Rajapaksa as the then president.

The previous Yahapalana government also made arrangements to proceed with the talks.(KELUM BANDARA)

  Comments - 17

  • Mokan Friday, 05 March 2021 11:51 AM

    God Save SL

    Jude Friday, 05 March 2021 12:18 PM

    SL got bank of China cheque book in their pocket !!

    M Perera Friday, 05 March 2021 12:20 PM

    Amooooo loan, loan loan is all I read these days.

    BuffaloaCitizen Friday, 05 March 2021 01:50 PM

    Rajapakse's will get an erection hearing this news.

    Ranaweera Friday, 05 March 2021 02:29 PM

    What else can we do? Will your step farthers in UK , Europe, USA come to our help ? No they want us to continue war so they can test their weapons on us.

    Jeewaratne hul Friday, 05 March 2021 07:57 PM

    Absolutely spot on, they don't have the money to match China.Just big talk clean suit and empty pocket.

    Nizam Friday, 05 March 2021 02:33 PM

    250 mil is straight going to the Swiss bank account of 3 boys. Very nice there. Generation's are sorted. Buffolo citizen your comment is so funny

    Saman Friday, 05 March 2021 02:33 PM

    Lankan lions must be getting hard.

    Jagath Silva Friday, 05 March 2021 04:10 PM

    Look the otherway UGhurs

    Jehan Friday, 05 March 2021 06:25 PM

    Gots is a war criminal, his son is a white collar criminal, brother is a mafia criminal. All these guys will have to pay for generations for killing the innocent, also for racism. Monks cannot help u, when your soul is thrown to hell fire for ever.

    Antony Jude Friday, 05 March 2021 06:30 PM

    Srilanka will become a colony of China soon. This is what present government also need. It is bad idea to join hands with China. Leaders win, but Country lose.

    Kumara Friday, 05 March 2021 07:55 PM

    Look what happened to Hong Hong! Same fate falls upon SL.

    Punchi Banda Friday, 05 March 2021 08:50 PM

    In wechat the Chinese are saying that Sri Lanka belongs to them.

    Senaka Friday, 05 March 2021 08:57 PM

    China saved the Rajapaksha clan. Patriotic Sri Lankans, now hoist the flag and celebrate the event. We won another war (loan war).

    vithura Friday, 05 March 2021 09:07 PM

    Those who voted with the full knowledge that the lives of their future generations would be mortgaged at the altar by their elected govt., must be in glee hearing this news! Bless them!

    Buddhist Friday, 05 March 2021 10:00 PM

    Currency swop a big game! When we have to return the $ at what rate are we going to buy $ from the market? Cabraal's another deal like Petroleum forward contract.

    Kathir Saturday, 06 March 2021 02:13 AM

    Some signs boards are seen with Chinese letters.Is Rajapaksh family going to learn soon Chinese language ? Or already started?


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