Bank of China offers US$300 million loan to Sri Lanka

Bank of China offers US$300 million loan to Sri Lanka

Written by Staff Writer

15 Jan, 2019 | 8:48 pm

Colombo (News1st): Reuters quoting a source in Colombo reported today (January 15) that the Bank of China, the country’s fourth-biggest lender by assets, has offered a loan of US$300 million to Sri Lanka which can be raised to $1 billion.

The source said the government is considering the offer because of “difficulty in borrowing money after recent rating downgrades”. When News1st inquired, a senior official at the Ministry of Finance confirmed that the Colombo branch of the Bank of China had offered a loan of $300 million to Sri Lanka.

He added that the cabinet approval has been granted to hold discussions in this regard with the relevant authorities.

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