Sri Lanka premier bank, Bank of Ceylon ( BOC) and China Development Bank will enter into a USD 140 million long-term facility where drawdown will be under two tranches of USD 70 million each.

The signing ceremony for the facility agreement will be held on 30 June 2020.

The facility will be utilized for supplementing BOC, which will provide much needed support during Sri Lank's fight against COVID-19.

As the largest commercial bank in Sri Lanka, BOC considers itself as the bankers to the nation, while China Development Bank is the world's largest development financial institution and the largest Chinese bank for financing cooperation, long-term lending and bond issuance.

Photo: Bank of Ceylon Chairman Kanchana Ratwatte on Friday called on the China’s Acting Ambassador in Colombo Hu Wei. Bank of Ceylon Acting General Manager/CEO D.P.K. Gunasekera and officials from BOC and Chinese Embassy are also present