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Sri Lanka in talks with China for $2.5 bn credit support: Chinese official

Chinese ambassador to Sri Lanka Qi Zhenhong told reporters the two sides were also discussing a separate loan of up to $1 billion which the Sri Lankan government had requested

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Reuters Colombo
China is considering offering a $1.5 billion credit facility to Sri Lanka and a decision is expected soon, a top Chinese official said on Monday, as part of efforts to help the island nation amid its worst economic crisis in decades.

Chinese ambassador to Sri Lanka Qi Zhenhong told reporters the two sides were also discussing a separate loan of up to $1 billion which the Sri Lankan government had requested.

He added that the South Asian nation was offered a loan of $500 million from the China Development Bank on March 18.

Sri Lanka has to repay about $4

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Mar 21 2022 | 1:31 PM IST

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