Asian Infrastructure Investment Bank approves $ 180 m loan for SL

Monday, 1 March 2021 00:25 -     - {{hitsCtrl.values.hits}}

The Asian Infrastructure Investment Bank (AIIB) has approved Sri Lanka’s request for a $ 180 million loan for the COVID-19 emergency and crisis response facility, to be disbursed $ 90 million each through the Bank of Ceylon and People’s Bank.

Sri Lanka’s Ambassador to China Dr. Palitha Kohona met AIIB Vice President Dr. D.J. Pandian on Thursday (25 February) when the approval of the loan was confirmed. Dr. Kohona met AIIB President Jin Liqun on 1 February as well to discuss the loan and other funding matters. 

At the meeting with the AIIB Vice President, Dr. Kohona thanked AIIB for the timely assistance in extending $ 180 million for the COVID-19 crisis recovery for small and medium scale enterprises (SMEs). The Ambassador also briefed Dr. Pandian on the current COVID-19 situation in Sri Lanka and the wide commendation the country has received. He also spoke of the Government’s handling of the economic challenges Sri Lanka was confronting.

Dr. Pandian invited Sri Lankan private and government sectors to consider seeking funding for renewable energy (wind and solar power), electric public transport systems, light rail transportation, electric vehicles, digital technology, shipbuilding, water supply, and manufacturing as the bank has sufficient funding for these sectors.

Dr. Kohona expressed confidence that the private sector would welcome the offer of funding. He also encouraged the private sector to consider AIIB’s offer, and if interested, to contact AIIB directly or through the Sri Lankan Embassy in Beijing.