Jan 15, 2022

SL seeks US $ 500 million loan from AIIB

Sri Lanka has sought a US $ 500 loan from the Asian Infrastructure Investment Bank (AIIB), headquartered in Beijing, China, for green development projects.

It is a multilateral development bank with the mission to improve social and economic outcomes in the world. The bank opened in January, 2016. Sri Lanka is one of its founding members. However, there is no confirmation of this loan at the moment.

Besides, the government has also asked for a credit arrangement from China to import materials required for apparel manufacturing. The request was made when Chinese State Councilor and Foreign Minister Wang Yi visited Sri Lanka.