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Sri Lanka to receive over $1bn from China for infra projects

Aug 24, 2012

The Sri Lankan government has received approval from the Cabinet of Ministers to obtain financial assistance from China for two major infrastructure projects in the Southern Province.

Accordingly, the government will enter into the loan agreements with China's Exim Bank to finance the second phase of the Hambantota Harbor project and construct the Matara-Beliatta segment of the southern rail line expansion project.

The Exim Bank of China has agreed to provide a loan of US $600 million and a Chinese Government Concessional Loan Renminbi Yuan 1 Billion (approximately US$ 157 million) to finance Phase II of the Hambantota Port Development Project.

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Source : ColomboPage
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