China provides update on Sri Lanka’s US$ 500 million loan request

A Chinese financial institute is currently negotiating with the Government of Sri Lanka over a US$ 500 million concessional loan, the Chinese Embassy in Sri Lanka clarified.

The Embassy said the concessional loan requested by the Sri Lanka Ministry of Finance to a Chinese finance institute is under negotiation and not finalised.

China would answer with all kinds of possible support to help Sri Lanka tide over the COVID-19 difficulties, the Embassy further said.

The Chinese Embassy in Colombo issued this statement via twitter in response to a related news publication on a local newspaper.

The Embassy further claimed that the debt owed to China by Sri Lanka is in fact the tip of the iceberg and that should make the debt crisis all the more alarming.

The famous Hambantota Port deal is not merely an issue of Chinese debt, it stated via Twitter.

The Chinese Embassy in Colombo added that Sri Lanka has much larger economic issues that go well beyond the debt owed to China. (NewsWire)

The post China provides update on Sri Lanka’s US$ 500 million loan request appeared first on NewsWire.

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