Asian Development Bank approves a USD 200 million loan to debt-stricken Sri Lanka
(This story has not been edited by THE WEEK and is auto-generated from a PTI
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(This story has not been edited by THE WEEK and is auto-generated from a PTI
The bank's announcement comes as Sri Lanka is awaiting International Monetary Fund approval for the second installment of a $2.9-billion bailout package to rescue the country from bankruptcy.
The bank's announcement comes as Sri Lanka is awaiting International Monetary Fund approval for the second installment of a USD 2.9-billion bailout package to rescue the country from bankruptcy.
The Asian Development Bank said Friday that it has approved $200-million concessional loan to debt-stricken Sri Lanka to help stabilize the country's finance sector following an unprecedented economic crisis that engulfed the Indian Ocean island nation last year.
The Asian Development Bank says it approved $200-million concessional loan to debt-stricken Sri Lanka to help stabilize the country's finance sector.