Sri Lanka to Take Loan From China to Repay Loan Taken From China

Sri Lanka to get a loan from China to repay the loan taken from China. Sri Lanka proposed a $1 billion loan from China to settle previous loans from Chinese Banks.

The Sri Lankan Government has requested a US$ 1 billion loan and a US$ 1.5 billion credit line from China. Sri Lanka is currently exploring the possibility of rescheduling debts but China has reportedly informed us it has no such system to reschedule debts payment.