Chinese loan delayed due to technical error

The US$ 1.5 Bn SWAP loan between the China and Sri Lanka Central Banks has been delayed due technical issues.

Finance Minister Basil Rajapaksa has requested Chairman of the National People’s Congress (NPC) Standing Committee, Li Zhanshu to look into the matter, during a special diplomatic discussion recently.

The discussion also centred on how Sri Lanka can enter the Chinese market with high-end products such as tea and gemstones under the Sino-Sri Lanka FTA.

Mr. Li has assured China’s commitment to assist Sri Lanka overcome its economic challenges and Covid-19.

The Sri Lanka Minister of Finance has stated that the government would make arrangements to establish the regional headquarters of the China Development Bank at the Colombo Port City.

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