The China Development Bank and Sri Lankan Government on Tuesday entered into an agreement with the former providing a RMB 2 billion (approx Rs. 61.5 billion) Term Financing Facility, Finance Ministry sources said.
The agreement was signed upon a request from Sri Lanka to support its COVID-19 response, economic revival, financial stability and livelihood betterment.
This is part of the Foreign Currency Term Financing Facility (FTFF) 2020 signed on March 18, 2020 where the terms of this facility remains at 10 years with a grace period of 3 years.
This was an improvement over the foreign currency term financing facility drawn in 2018 from the China Development Bank, officials said.
The financial cost of borrowing when compared to the current market conditions is competitive with the interest rate as its margins will be over 6 months LIBOR. (BS)
A Thai woman walking topless in Arugam Bay town has been arrested by the Police.
The UK government has unveiled a package of reforms to simplify imports from developing countries which allows for more garments manufactured in Sri Lanka to enter the UK tariff-free.
The Cabinet has approved a proposal for Sri Lankans overseas to apply for their passports through an online system via the Lankan diplomatic missions.
Villagers in Nirmalapura, Daluwa, Norochcholai today staged a protest over an incident where a group of Navy officials and sailors had assaulted a resident in the area over night, Police said.
A passenger attempting to smuggle the largest quantity of gold of 35 kilo grams was arrested by the Customs at the Bandaranaike International Airport (BIA) today, a senior official said.
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