He said that even though it is a $ 700 million loan agreement, CDB is now expected to add another $ 150 million, making the second tranche of the loan $ 350 million, which is yet to be received by Sri Lanka. Speaking to us last month, Central Bank of Sri Lanka (CBSL) Governor Prof. W.D. Sri Lanka received a $ 500 million loan from China in April. Issuing a statement, the Sri Lankan Embassy in China said: “This loan will infuse vitally required foreign exchange into the Sri Lanka economy. Sri Lanka is also liable to repay nearly $ 4.5 billion in foreign debt annually until 2025.

Source: The Nation August 07, 2021 18:56 UTC