Sri Lanka signs Rs. 61.5 billion Term Facility with China Development Bank
The Government of Sri Lanka and the China Development Bank have entered into an agreement of RMB 2 billion – approximately Rs. 61.5 billion term Facility today (August 17), the Chinese Embassy in Colombo announced.
The Chinese Embassy in Colombo taking to Twitter said the agreement was signed on a request from Sri Lanka.
The Embassy stated the agreement was penned in order to support the country’s COVID-19 response, economic revival, financial stability and livelihood betterment.
China Development Bank and Sri Lankan Government has entered into an agreement of RMB 2 Billion (approx LKR 61.5 Billion) Term Facility today (17 Aug), upon a request from 🇱🇰 side to support its #COVID19 response, economic revival, financial stability and livelihood betterment. pic.twitter.com/ehkvWGfXzz
— Chinese Embassy in Sri Lanka (@ChinaEmbSL) August 17, 2021
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That’s good news,
Many new white elephant monuments which will contribute zilch to the economy, can now be built.
The elections are only 3 years away and our leaders need opportunity to show development to win votes.