Colombo set to receive more concessional loans from China

[TamilNet, Sunday, 22 March 2020, 22:05 GMT]
SL Cabinet Spokesman and Minister in Colombo’s Rajapaksa regime has told Daily Mirror that China Development Bank (CDB) would be extending an additional USD 700 million as a concessionary loan in addition to USD 500 million loans received last week. The credit is expected in May, the news report said. “We can use it for infrastructure development, budgetary support and debt servicing,” the Daily Mirror quoted the SL Minister as saying.

A press statement issued by the Chinese Embassy in Colombo on 19 March stated that the SL Government had urgently requested financial assistance “under current financial situation in Sri Lanka and the background of fighting COVID-19 pandemic with all-out efforts.”

The statement was issued a day after a CDB team visited Colombo to sign a facility agreement of USD 500 million on 18 March at the Temple Trees.

Gunawardene holds two ministerial portfolios in the Rajapaksa cabinet. He is the SL Minister of Information & Mass Media as well as of Higher Education, Technology & Innovation.


Chronology:

 

Latest 15 Reports
05.07.20 23:06   Photo
University students, Shivajilingam brave SL harassment to commemorate fallen Black Tigers
04.07.20 22:28   Photo
Monk commanding Sinhala-Buddhicisation of North-East threatens Tamil villagers in Batticaloa
03.07.20 19:28   Photo
After Naavat-kuzhi, Colombo targets Poonakari for Sinhala colonisation across Jaffna lagoon
02.07.20 22:26  
Colombo imposes restrictions on Tamil valour related symbolism in schools of North
01.07.20 13:22  
New secret unit among four SL military and police squads competing to arrest Tamil youth in North
30.06.20 22:10  
Tamils blocked from accessing properties near SL Navy training base in Champoor, Trincomalee
29.06.20 23:29   Photo
Moragoda advising Gotabaya prompts Sinhala parties to scrap Provincial Councils
28.06.20 22:06  
India privileging BRIC/RIC over Quad ‘discordant’, says former US top diplomat
27.06.20 22:11  
Indo-Pacific expert wants US to seek opportunities in ‘Sri Lanka’
26.06.20 21:24  
Russia steps up influence on New Delhi to uphold “multilateralism” against US “rules-based order”
25.06.20 23:53  
Pompeo talks about US reposturing troops, mentions India, Vietnam, Malaysia and Indonesia
24.06.20 23:36   Photo
Devananda circumvents court order, manipulates Jaffna fishers to allow poachers from South
23.06.20 22:03  
Sinhala encroachment of pastureland continues unabated in Batticaloa
22.06.20 18:17  
SLMC Chairman: Time for joint Tamil-Muslim efforts
21.06.20 23:11   Photo
Ex-councillor: Poverty-stricken Tamils at receiving end of SL military brutality in North
 
Find this article at:
http://www.tamilnet.com/art.html?catid=13&artid=39766