The government plans to obtain a syndicated loan of up to USD 01 billion and proposals are to be called for within a few days, said Finance Minister Ravi Karunanayake while meeting representatives of the Foreign Journalists’ Association in Colombo.

The interest rates on this loan would reportedly be between 3.25 and 3.75 per cent.

The Finance Minister further said that international banks have shown willingness to provide loans to Sri Lanka, if needed even loans up to USD 02 billion could be obtained and that the government expects to obtain such loans before international lending rates rise.

Recently the government borrowed USD 650 million through an international sovereign bonds issue.