Sri Lanka sings a deal with China for 580 million dollar loan

Thursday, 23 May 2013 - 14:12

Sri+Lanka+sings+a+deal+with+China+for+580+million+dollar+loan+++

 

Sri Lanka has signed a deal with China Development Bank to borrow 580 million US dollars in 2013 for projects in 2013.

 

The cabinet of ministers had approved a proposal by President Mahinda Rajapaksa as finance minister to sign a memorandum of understanding with CDB.

 

CDB and the Exim Bank of China have funded large infrastructure projects in Sri Lanka on power, roads and ports involving Chinese supplies and contractors.

 



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