11-Mar-2010 10:54 AM

Chinese Government loans Sri Lanka USD290 for 2nd airport

Chinese Government reportedly agreed to lend USD290 million to Sri Lanka, through the Exim Bank, for the construction of a second airport in Matara (USD190 million) and upgrades to the nation’s rail network (USD100 million) (Reuters, 10-Mar-2010). China provided Sri Lanka USD1.2 billion in funding in 2009, while the Asian Development Bank loaned USD424 million.