The proposed US $ 1 billion loan to be obtained from China will be utilised to settle the previous loans from the Chinese banks, Daily Mirror learns.
Sri Lanka’s current loans from China also amount to nearly US $ 1 billion, a top source said. The latest method will be adopted since China does not have the concept of rescheduling debts.
The authorities of the two countries are currently negotiating terms and conditions of the new financial facility to be extended.
Besides, there will be another US $ 1.5 billion buyer’s credit from China to import materials from China.
SriLankan Airlines has won the prestigious 2025 APEX Best Entertainment Award in Central/Southern Asia at…
President Anura Kumara Dissanayake declared that will be no room for racial politics of religious…
Sri Lanka Tourism is set to unveil a unified national brand in January instead of…
The government has set its sights on an ambitious annual export revenue target of US…
According to the new government policies, higher priority has been given to education, and school…
The government has decided to import Nadu rice subject to maximum of 70,000 tonnes as…