The first payment of USD 108 million is expected in January, another USD 300 million in March and the balance around June, he said.
The announcement came as Sri Lanka's foreign exchange reserves fell to USD 6.1 billion in October.
The Sri Lankan rupee suffered over 2 per cent depreciation to the US dollar so far this year, the Central Bank said.
The reserves will also be boosted by the International Monetary Fund's approval of a second tranche earlier this month.
Last week, the IMF said it was releasing USD 162 million, part of the USD 1.4 billion three-year arrangement approved in June this year.
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