BOC, China Development Bank ink $140mn facility agreement

June, 30, 2020

Sri Lanka premier bank, Bank of Ceylon (BOC) and China Development Bank today (30) entered 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 was held in Colombo today.

Addressing the event, Acting General Manager of Bank of Ceylon Sudath Gunasekara stated that, the facility will be utilized for supplementing BOC, which will provide much-needed support during Sri Lanka'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.

Image Caption: Bank of Ceylon Chairman Kanchana Ratwatte