Sri Lanka to receive USD 7 billion loan from two foreign banks

COLOMBO (News 1st); State Minister of Finance Ranjith Siyambalapitiya said Sri Lanka is due to receive a loan of 7 billion dollars from two other foreign banks.

The State Minister said the loan will be provided by the World Bank and the Asian Development Bank.

He said Sri Lanka was unable to receive foreign loans after April 2022 due to the temporary inability to repay loans.

He added however trust in this regard was restored following approval of the International Monetary Fund Extended Fund Facility.