Chinese funding to SL amounts to US$ 2.53bn since 2007
(Srilankamirror) – The Finance Ministry has stated that Sri Lanka has managed to get US$ 2.53 billion in funding from China since 2007 and US$ 1,205 billion has already been disbursed into sectors like roads, power, ports and airports.
In 2011 China has committed US$ 785 million in new financing, up from US$ 635 million in 2010.
China has committed about US$ 2.1 billion in loans and US$ 24 million in grants.
The Export Import Bank of China according to the Finance Ministry’s annual report was the top lender followed by China Development Bank and the Industrial and Commercial Bank of China.
Grants and interest free loans are given by the Chinese government.
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