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Lanka receives USD 500 mn concessional loan from Republic of Korea
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In order to further strengthen the economic
cooperation between two countries, the
Government of Republic of Korea has agreed to provide concessional loans from
the Economic Development Cooperation Fund (EDCF) of the Export Import Bank of Korea
(KEximbank).
Accordingly, the Government of Republic of Korea and
Government of Sri Lanka have agreed to sign a new Framework Arrangement for the
period of 2020-2022 to obtain loans through EDCF up to an aggregate commitment
amount of USD 500
million to finance projects mutually agreed
The loan interest rate on this
concessional loan is about as low as 0.15% -0.20% and
the loan has a repayment period of about 40 years with
Sri Lanka signs USD 500 Mn Concessional Loan with South Korea
Sri Lanka signs USD 500 Mn Concessional Loan with South Korea
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COLOMBO (News 1st); The Government of the Republic of Korea has agreed to provide concessional loans from the Economic Development Cooperation Fund (EDCF) of the Export-Import Bank of Korea (KEximbank).
Accordingly, the Government of the Republic of Korea and the Government of Sri Lanka have agreed to sign a new Framework Arrangement for the period of 2020-2022 to obtain loans through EDCF up to an aggregate commitment amount of USD 500 million to finance projects mutually agreed.,
The loan interest rate on this concessional loan is about as low as 0.15% -0.20% and the loan has a repayment period of about 40 years with a grace period of 10 years.
USD 500 Million Concessional Financing from Republic of Korea
May, 10, 2021
In order to further strengthen the economic cooperation between two countries, the Government of Republic of Korea has agreed to provide concessional loans from the Economic Development Cooperation Fund (EDCF) of the Export Import Bank of Korea (KEximbank).
Accordingly, the Government of Republic of Korea and Government of Sri Lanka have agreed to sign a new Framework Arrangement for the period of 2020-2022 to obtain loans through EDCF up to an aggregate commitment amount of USD 500 million to finance projects mutually agreed
The loan interest rate on this concessional loan is about as low as 0.15% -0.20% and the loan has a repayment period of about 40 years with a grace period of 10 years.
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