March, 6, 2020
The Government is in the middle of negotiating a loan from the Chinese Development Bank, which could be between $ 1-2 billion, Senior Deputy Governor Dr. Nandalal Weerasinghe said.
“The loan could be finalized within weeks,” he added.
“The Government has a clear borrowing plan for the year, and under that they are already working on a loan from China Development Bank, and we understand that has made good progress and that probably will materialise in a couple of weeks. After the elections and the Budget is presented, there will be a borrowing plan for next year and even for the second half of this year. The indication is that the Chinese loan could be between $1-2 billion, but the final number has not been finalized,” Dr. Weerasinghe said whilst addressing the media during a press meeting in Colombo yesterday (5).
“The loan would be within the borrowing limits approved in a vote on account up to April,” Weerasinghe added.