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China+agrees+to+extend+%24+1.25bn+loan+to+bailout+Sri+Lanka
Saturday, 04 August 2018 - 9:36
China agrees to extend $ 1.25bn loan to bailout Sri Lanka
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China is on track to bail out Sri Lanka with up to 1.25 billion US dollars in 2018.
 
It will below market rate and will be disbursed later this year.
 
Sri Lanka is facing foreign debt repayment spikes in 2019 to 2021 period and the island changed its borrowing laws to allow extra money to be raised early to stretch repayment.
 
China Development Bank offered 8-year funds with a 3-year grace period at around 5.25 to 5.35 percent.
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