Lanka signs $308-mn loan agreement with China

Sri Lanka on Tuesday signed a loan agreement with China worth 2 billion Renminbi ($308 million) to support its Covid-19 response, economic revival and financial stability, the Chinese embassy said. "China Development Bank and Sri Lankan Government have entered into an agreement of RMB 2 Billion (approx ₹ 61.5 Billion) Term Facility today (Aug 17), upon a request from Sri Lanka side to support its #COVID19 response, economic revival, financial stability and livelihood betterment," the embassy tweeted.