Hatton National Bank PLC (HNB) on Wednesday signed an agreement to raise US$ 50 million through a 5-year long term loan from the China Development Bank Corporation (CDB). This is part of the bank's capital raising plan which commenced in mid-2011 to raise over Rs. 20 billion in equity and debt capital, HNB said in a media statement. Under the programme the bank has thus far raised over Rs. 18.5 billion through a combination of tier I capital, tier II capital and senior debt to finance the development in post war Sri Lanka.
The agreement was signed by Dr Ranee Jayamaha, Chairperson and Rajendra Theagarajah Managing Director / CEO on behalf of Hatton National Bank PLCand Wei Peng Deputy General Manager Guangxi Branch on behalf of ChinaDevelopment Bank Corporation.
Ren Faqiang - Political Counsellor / acting Ambassador representing the Embassy of the People's Republic of China said that the occasion marks the disbursement of more than US $1 billion by the China Development Bank to Sri Lanka during the past one year.