18 March 2020 02:45 pm Views - 1230
Sri Lanka has signed an agreement with the China Development Bank for a financing facility of USD 500 million for development efforts in the country, the Finance Ministry said.
The CDB in 2018 extended a USD 1 billion syndicated loan of an eight-year tenure.
The Daily FT said this support would be upsized with the extension of USD 500 million with a 10-year tenure, and more attractive terms.
The amount is within the borrowing limit set out in the Vote on Account.