China Eximbank provides $76 million buyer’s credit loan for Relocation and Development of Institute of Technology, University of Moratuwa

China Eximbank provides $76 million buyer’s credit loan for Relocation and Development of Institute of Technology, University of Moratuwa In November 2011, Sri Lanka’s Ministry of Higher Education entered into a contract with the China National Aero Technology Import and Export Corporation (CATIC) to carry out a project for the relocation and development of the Institute of Technology of the University of Moratuwa.

China Eximbank agreed to provide a loan of $76.1175 million buyer’s credit loan (BCL) for the project. Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.