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Sri Lanka negotiating $1Bn plus loan with China

The Government is in the middle of negotiating a loan from the Chinese Development Bank, which could be between $ 1-2 billion, Senior Deputy Governor Dr. Nandalal Weerasinghe said.

“The loan could be finalized within weeks,” he added.

“The Government has a clear borrowing plan for the year, and under that they are already working on a loan from China Development Bank, and we understand that has made good progress and that probably will materialise in a couple of weeks. After the elections and the Budget is presented, there will be a borrowing plan for next year and even for the second half of this year. The indication is that the Chinese loan could be between $1-2 billion, but the final number has not been finalized,” Dr. Weerasinghe said whilst addressing the media during a press meeting in Colombo yesterday (5).