Bank of China pledges 1 billion USD loan for Sri Lanka for loan repayments
Pledged amount
$ 1123564612.2621393
Adjusted pledged amount
$ 1123564612.2621393
Constant 2021 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Summary
Funding agency [Type]
Bank of China (BOC) [State-owned Commercial Bank]
Recipient
Sri Lanka
Sector
General budget support (Code: 510)
Flow type
Loan
Level of public liability
Unallocable
Infrastructure
No
Category
Project lifecycle
Description
On January 17, 2019, Reuters reported that the central bank of Sri Lanka said the Bank of China would loan 1 billion USD for loan repayments by the first quarter of 2019. The interest rate of the first 300 million USD loan of the total amount is reported as 5.5%, but both the grace period and maturity are unknown. The loan was originally expected to be finalized by the end of January 2019, with the remaining 700 million USD finalized before the end of March 2019. In February 2019, it was reported that the loan would be delayed. To date, there has been no update on the details of this loan.
Number of official sources
0
Number of total sources
8
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Sri Lanka [Government Agency]
Loan Details
Interest rate
5.5%