Sri Lanka pays back another USD 100mn to Bangladesh

Sri Lanka pays back another USD 100mn to Bangladesh

September 1, 2023   01:19 pm

Sri Lanka has repaid USD 100 million more to Bangladesh, which had lent USD 200 million to the crisis-hit island nation two years ago.

Confirming this development on Friday, Bangladesh Bank Executive Director and spokesperson Mezbaul Haque told the media that Bangladesh received USD 2.8 million more in interest with the second installment.

Sri Lanka reimbursed USD 50 million to Bangladesh in the first installment of the loan on August 17.

Mezbaul earlier said the central bank was optimistic that Sri Lanka would honor its commitment to repay the entire loan amount within the current year.

Back in 2021, the Bangladesh Bank provided a USD 200 million loan to Sri Lanka, which was then grappling with financial challenges.

This assistance was drawn from the foreign exchange reserves under a currency swap arrangement. The loan had an initial term of one year, which concluded in September of the following year.

Due to Sri Lanka’s persisting economic turmoil, the nation requested extensions for the repayment period. Bangladesh accommodated this request, granting two phases of extensions – first, an additional six months until March of this year, and later another six-month extension until September.


Source: The Business Post

Disclaimer: All the comments will be moderated by the AD editorial. Abstain from posting comments that are obscene, defamatory or slanderous. Please avoid outside hyperlinks inside the comment and avoid typing all capitalized comments. Help us delete comments that do not follow these guidelines by flagging them(mouse over a comment and click the flag icon on the right side). Do use these forums to voice your opinions and create healthy discourse.

Most Viewed Video Stories

Substandard medicine imports: Court orders to record statements from 18 former Cabinet members (English)

Substandard medicine imports: Court orders to record statements from 18 former Cabinet members (English)

Sri Lankan workers in UAE trafficked to Myanmar cybercrime camps, authorities warn (English)

Special announcement to all voters and candidates ahead of 2024 General Election (English)

LIVE🔴 Ada Derana Prime Time News Bulletin 6.55 pm

LIVE🔴Ada Derana Lunch Time News Bulletin 12.00 pm

Ranil says Sri Lanka needs 8% growth and urges govt. to admit its failure (English)

Namal questions NPP's unrealistic promises and employment creation plan (English)

Dilith offers a roadmap to help President to fulfill his promises (English)