Sri Lanka to get Rs. 19.5 billion loan from China to finance Hambantota Port development

Friday, 11 January 2013 - 12:28

Sri+Lanka+to+get+Rs.+19.5+billion+loan+from+China+to+finance+Hambantota+Port++development

The government received approval from the Cabinet to obtain a 19 billion rupees loan from China to finance the additional cost of Phase I of the Hambantota Port Development Project.

 

The Cabinet approved President Mahinda Rajapaksa's proposal to enter into a Framework Agreement with Chinese government to obtain the loan from the Exim Bank of China under Chinese Government Concessional Loan Facility.

 

The loan will be used to finance the additional cost for ancillary works and supply of equipment of Phase I of the Hambantota Port Development Project



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