18 August 2021 09:08 am Views - 185
By Kelum Bandara
The Government has borrowed a loan of two billion RMB ( US $ 300 million ) from China Development Bank , an official said.
The abbreviation- RMB is the shortened form of Chinese currency ‘Renminbi’ which is also called Yuan.
State Minister of Money , Capital Markets and Public Enterprise Reforms Ajith Nivard Cabraal told the Daily Mirror that this was a direct loan obtained by the Government and therefore it could be used for any activity such as repayment of loans or development activities “We can use it for whatever action ,” he said.
Sri Lankan Ambassador to Beijing Dr. Palitha Kohona signed the agreement with the Chinese bank yesterday . Director General of International Cooperation Department II, Global Finance of CD Wan Wei signed it on behalf of the bank.