(LANKAPUVATH | COLOMBO) – Sri Lanka’s Ambassador to China Palitha Kohona says he’s very confident that China will come through on $2.5 billion in financial support to overcome the current economic issues.
Speaking to Bloomberg, Ambassador Palitha Kohona has said that he had received reassurances as recently as last week from authorities in China that arrangements for loans and credit lines were progressing.
Sri Lanka is looking to borrow $1 billion from Beijing so that it can repay existing Chinese loans due in July, as well as a $1.5 billion credit line to purchase goods such as textiles needed to support the apparel export industry.
Ambassador Palitha Kohona said “Given the current circumstances, there aren’t that many countries that can step out to the pitch and do something. China is one of those countries that can do something very quickly.”
He however was unable to give a precise timeframe, and had not disclosed the terms of the funding.
