Govt to receive another US$ 700 million from China in May

Release time:2020-03-22 Publisher:Lanka Voice

Higher Education Minister Bandula Gunawardane said Sri Lanka would receive another US$ 700 million in May as  a concessionary loan  from China Development Bank .
The Minister who is also the Cabinet spokesman told Daily Mirror this would be in addition to US $ 500 million announced recently.
He said the country would receive US $ 1.2 billion in this manner for various needs.
“We can use it for infrastructure development, budgetary support and debt servicing ,” he said.
He said there would be  a three - year grace period for the repayment of this loan .

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