CDB provides $500 million loan in 2021 to help Government of Sri Lanka meet its outstanding debt obligations and shore up foreign exchange reserves (Linked to Record ID#71123, ID#89482, ID#89484)

📋 Staff Comments

1. For loan and debt rescheduling records with variable interest rates, AidData calculates the all-in interest rate at T0 based on the reference rate (such as LIBOR or EURIBOR) on the loan start date, plus any known margin. Please see the methodology for additional details.
2. The borrower signed a $1 billion FCTFF with CDB on October 12, 2018 (captured via Project ID#71123), a $500 million FCTFF with CDB on March 18, 2020 (captured via ID#89482), and an RMB 2 billion term facility agreement with CDB on August 17, 2021 (captured via ID#89484). Sri Lanka’s Ministry of Finance, Economy and Policy Development identifies the 2020 FTFF as an ‘upsizing’ of the 2018 FTFF 2018. Therefore, AidData assumes that the purposes of the 2021 FTFF, 2020 FTFF, and 2018 FTFF are identical.
3. The Government of Sri Lanka loan key number is 2021002.

📚 Sources & References

• USD 500 Million facility agreement Signed between Sri Lanka and China
• USD 500 Million Urgent Financial Assistance Extended to Sri Lanka by China
• USD 500 Mn Foreign Currency Term Financing Facility signed on April 12, 2021
• FISCAL MANAGEMENT REPORT 2020–21
• MID - YEAR FISCAL POSITION REPORT - 2021
• USD 500 Million Facility Agreement signed between Sri Lanka and China
• External Sector Performance – April 2021, 2021 ANNUAL REPORT (Volume I)
• China provides US$ 500 Million loan
• China Development Bank to extend USD 500 million loan to Sri Lanka
• CS-DRMS Report 814
• The Export-Import Bank of China
• Disbursements in 2014 January to December.pdf, 814 Disbursements Jan to Dec 2015
• Disbursement from January to December 2016.pdf, 814-1 Annual 2017 for WEB New.pdf
• Transactions For the period from to 2019/01/01 2019/12/31, 814 up to Oct 2018.PDF
• Transactions For the period from to 2020/01/01 2020/12/31
• Transactions For the period from to 2021/01/01 2021/11/30
• Actual Disbursement by Transaction Date
• FINANCIAL STATEMENTS OF THE GOVERNMENT FOR THE YEAR ENDED 31ST DECEMBER 2018
• FINANCIAL STATEMENTS OF THE GOVERNMENT FOR THE YEAR ENDED 31ST DECEMBER 2019
• FINANCIAL STATEMENTS OF THE GOVERNMENT FOR THE YEAR ENDED 31ST DECEMBER 2021
• Instrument-wise Details of Central Government External Debt obtained under Foreign Law as at 2022/06/30
• FINANCIAL STATEMENTS OF THE GOVERNMENT FOR THE YEAR ENDED 31 ST DECEMBER 2020 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.