Sri Lanka signs US$ 4.8bn Chinese debt deal

Sri Lanka
By Editor_1

COLOMBO – Sri Lanka signed a debt treatment deal with China Export and Import Bank in Beijing a little after 6:00 p.m. Sri Lanka time, to restructure $4.2 billion of debt, President’s Media Division said.

“The Framework Agreement related to this was signed between Sri Lanka and China in Colombo, Sri Lanka. This restructuring provides significant debt relief, allowing Sri Lanka to allocate more funds to essential public services & resume concessional financing for critical infrastructure development.”

Chinese Embassy in Colombo confirmed the signing of the deal.

“Chinese Ambassador, H.E. Qi Zhenhong just signed the vital Government Concessional Loan Agreement. Great contributions to Sri Lanka debt restructuring!” the Embassy said in its X (Twitter) feed.  -economynext.com

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