- The Invisible
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Sri Lanka gets US$1bn eight-year loan from China Development Bank
It did not say what the interest was except that “the interest cost is highly competitive and linked to 6 month US dollar LIBOR (London inter-bank offered rate).
“The repayment will be in equal semi-annual payments after the grace period. The resulting inflow increases the official foreign reserves by US$1,000 million.”
The central bank said the government had invited to submit proposals from international and domestic banks and investment houses for a Foreign Currency Term Financing Facility (FCTFF).
This was to be denominated in United State dollar, Japanese yen or euro or of their combination up to a limit of US$1,000 million in March 2018.
Four proposals were received from international and domestic banks and investment houses.
“A Cabinet appointed Steering Committee and Technical Evaluation Committee chose China Development Bank as the syndicate arranger based on least cost and longer maturity period given in its proposal submitted,” the central bank said.
(COLOMBO, 17 Octber, 2018)
- sereneTop contributor
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Re: Sri Lanka gets US$1bn eight-year loan from China Development Bank
- The Invisible
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Re: Sri Lanka gets US$1bn eight-year loan from China Development Bank
I expect some appreciation in LKR against USD during next one to two weeks time as I expect more selling of USD export proceeds before the loan proceeds comes into BOP.
- කිත්සිරි ද සිල්වාTop contributor
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Re: Sri Lanka gets US$1bn eight-year loan from China Development Bank
- The Invisible
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Re: Sri Lanka gets US$1bn eight-year loan from China Development Bank
So no issues for the Dollar, isn't it.
Smart thinking
- sereneTop contributor
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Re: Sri Lanka gets US$1bn eight-year loan from China Development Bank
The Invisible wrote:මෙහෙම කරන්නත් පුලුවන්....එක බැන්කුවකින් අරගෙන තව බැන්කුවකට ගෙවන්නත් පුලුවන්. ණය එසේමයි නමුත් සන්චිතත් එසේමයි......
So no issues for the Dollar, isn't it.
Smart thinking
He he.
Issue is mun poliya gewannawath weda karanne nane.
- Brave Heart
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Re: Sri Lanka gets US$1bn eight-year loan from China Development Bank
- Brave Heart
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