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Sri Lanka to get syndicated loan from China Dev Bank in Aug, Oct

ECONOMYNEXT – Sri Lanka will get the first 500 million dollar tranche of a one billion US dollar syndicated loan from China, mandated earlier in the year, by the end of August, Central Bank Governor Indrajit Coomaraswamy said.

The second 500 million dollar tranche will be disbursed in October, he said.

Deputy Governor C P J Siriwardene said the loan came at 5.25 percent.

The loan from China Development Bank, has an 8-year payback and 3-year grace period.

The China Development Bank beat all offers from international banks. (Colombo/Aug03/2018)

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