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)
The Judicial Service Commission (JSC) has interdicted Colombo Fort Magistrate Kosala Senadheera.
Mr. Ali Sabri Rahim, a Member of Parliament (MP) for Puttalam District whom an open warrant had been issued, attended a public ceremony at Al Aksha National School in Kalpitiya today (16) as the special guest of honor.
The Supreme Court today refused interim relief in an application filed by President’s Counsel Senaka Walgampaya seeking an Order from the Supreme Court compelling the President to appoint judges to fill the existing vacancies in the Court Of Appeal.
The deadline for online applications to the 2024 G.C.E. Advanced Level (A/L) Examination has been extended until July 12, the Department of Examinations said.
Gazette on new speed limit regulations to be issued within two weeks
Cabinet has approved a proposed amendment to the Constitution that a referendum would be required to extend the Presidential and Parliamentary term beyond five years.
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