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The Invisible
The Invisible
Posts : 2665
Join date : 2016-11-28
Age : 41

Sri Lanka gets US$1bn eight-year loan from China Development Bank Empty Sri Lanka gets US$1bn eight-year loan from China Development Bank

on Thu Oct 18, 2018 7:42 am
Message reputation : 100% (3 votes)
ECONOMYNEXT – Sri Lanka has got a billion dollar loan from China Development Bank (CDB) with an eight-year maturity and three-year grace period, the central bank announced in a statement.

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)
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serene
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Top contributor
Posts : 4848
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Sri Lanka gets US$1bn eight-year loan from China Development Bank Empty Re: Sri Lanka gets US$1bn eight-year loan from China Development Bank

on Thu Oct 18, 2018 7:47 am
Good that they fill the coffers  to meet the lavish spending of the members of the next government.


Last edited by serene on Thu Oct 18, 2018 7:53 am; edited 1 time in total
The Invisible
The Invisible
Posts : 2665
Join date : 2016-11-28
Age : 41

Sri Lanka gets US$1bn eight-year loan from China Development Bank Empty Re: Sri Lanka gets US$1bn eight-year loan from China Development Bank

on Thu Oct 18, 2018 7:51 am
Message reputation : 100% (1 vote)
The next government too forms the same members but color may be different.

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 සිල්වා
කිත්සිරි ද සිල්වා
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Top contributor
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Sri Lanka gets US$1bn eight-year loan from China Development Bank Empty Re: Sri Lanka gets US$1bn eight-year loan from China Development Bank

on Thu Oct 18, 2018 7:52 am
ණය අරන් මඩිස්සලේ තියා ගැනිමත් ඉස්සර ණය අරන් තණ කොළ වවපුවා වගේ වෙනවා ඒවා සල්ලි පැටව් ගස්සන දෙයකට නොයෙදෙව්වොත්. Shocked

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The Invisible
The Invisible
Posts : 2665
Join date : 2016-11-28
Age : 41

Sri Lanka gets US$1bn eight-year loan from China Development Bank Empty Re: Sri Lanka gets US$1bn eight-year loan from China Development Bank

on Thu Oct 18, 2018 8:00 am
Message reputation : 100% (2 votes)
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 lol!
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serene
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Sri Lanka gets US$1bn eight-year loan from China Development Bank Empty Re: Sri Lanka gets US$1bn eight-year loan from China Development Bank

on Thu Oct 18, 2018 8:06 am
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 lol!  

He he.
Issue is mun poliya gewannawath weda karanne nane.
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Brave Heart
Posts : 171
Join date : 2018-10-17

Sri Lanka gets US$1bn eight-year loan from China Development Bank Empty Re: Sri Lanka gets US$1bn eight-year loan from China Development Bank

on Sun Oct 21, 2018 7:42 pm
Sri Lanka rupee is continue to slide down. Can the Government keep rupee at least 180 range by the end of the year? Are they capable of managing this while having the market-driven exchange rate mechanism. Or will CB consider implementing controlled exchange rate policy as a temporary remedy ?
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Brave Heart
Posts : 171
Join date : 2018-10-17

Sri Lanka gets US$1bn eight-year loan from China Development Bank Empty Re: Sri Lanka gets US$1bn eight-year loan from China Development Bank

on Wed Oct 24, 2018 11:33 am
When these proceeds are coming to Sri Lanka.?
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