Sri Lanka receives US $500 Mn loan from China

Colombo (News 1st);  Sri Lanka received the US $500 mn loan from China on Thursday (15).

Earlier this week, the Government signed a loan agreement for 500 million US dollars with the China Development Bank. Issuing a statement, the Sri Lankan Embassy in China said the loan was provided to infuse foreign exchange into the Sri Lankan economy adding that the funds will help with government efforts to facilitate rapid economic recovery following the setbacks caused by the COVID-19 pandemic.