SL seeks US $ 500 million loan from AIIB

• The loan has been sought for green development projects
•  AIIB is a multilateral development bank with the mission to improve social and economic outcomes in the world

By Kelum Bandara 

Sri Lanka has sought a US $ 500 loan from the Asian Infrastructure Investment Bank (AIIB), headquartered in Beijing, China, for green development projects, Daily Mirror learns.   

It is a multilateral development bank with the mission to improve social and economic outcomes in the world. The bank opened in January, 2016. Sri Lanka is one of its founding members. However, there is no confirmation of this loan at the moment.   

Besides, the government has also asked for a credit arrangement from China to import materials required for apparel manufacturing. The request was made when Chinese State Councilor and Foreign Minister Wang Yi visited Sri Lanka. 

•  Sri Lanka is one of its founding members