Entering into an Agreement on Debt Restructuring between the Government of the Democratic Socialist Republic of Sri Lanka and the CREDENDO - Export Credit Agency of Belgium in relation to the External Debt Restructuring Process

Entering into the bilateral Agreement with the Government of CREDENDO - Export Credit Agency of Belgium in relation to the External Debt Restructuring Process marks a significant milestone and reflects the Government of Sri Lanka’s continued commitment to conclude the debt restructuring process successfully in order to restore debt sustainability and thereby revamp Sri Lanka’s economy.

Following bilateral discussions after the conclusion of the MoU with the Official Creditor Committee (OCC), the CREDENDO - Export Credit Agency of Belgium has agreed to extend a debt relief measure by rescheduling the outstanding debts.

The Bilateral Agreement was signed by Dr. Harshana Suriyapperuma, Secretary of the Ministry of Finance, Planning and Economic Development, on behalf of the GoSL, and Mr. Dirk Terweduwe, Chief Executive Officer, on behalf of the CREDENDO - Export Credit Agency of Belgium.

The estimated rescheduled debt under this agreement amounts to Euro 9.6 million.

Entering into the Agreement will certainly pave the way to developing further the deep and longstanding bilateral relationships between the Belgium and the Government of Sri Lanka. The Government of Sri Lanka extends its sincere appreciation to the Belgium for its continued support and cooperation.