SL seeks fresh loan from Bangladesh

Thursday, 31 March 2022 01:42 - - {{hitsCtrl.values.hits}}

Bangladesh Foreign Minister A.K. Abdul Momen says new request for $ 250 m under consideration
Confirms Bangladesh Govt. has extended time to repay earlier credit line

Bangladesh Foreign Minister A.K. Abdul Momen this week said the request made by Sri Lanka for further financial assistance under consideration.

“Sri Lanka has requested for an additional $ 250 million, as a currency swap. However, the latest request for another loan is currently under consideration,” the Minister told journalists in Colombo on the side lines of the BIMSTEC Summit.

The fresh swap is in addition to the previous $ 250 million offered by the Bangladesh Bank (BB).

Noting that Bangladesh is also monitoring the situation, the Minister said they too are assessing how the economy will evolve. “Depending on the situation, we will make a decision on Sri Lanka’s request,” he added.

Bangladeshi Foreign Minister also said the repayment period of the previous loan was extended by the BB.