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China Will Agree to Aid ‘At Some Point,’ Sri Lanka Envoy Says

  • Seeking as much as $4 billion financial help from Beijing
  • Sees China-Sri Lanka relations surviving Rajapaksa resignation

Sri Lanka is continuing negotiations with China for as much as $4 billion in aid and is confident Beijing will agree “at some point,” according to a top envoy.

Colombo is asking China for a loan of $1 billion to repay an equivalent amount of Chinese debt coming due this year, Palitha Kohona, Sri Lanka’s ambassador to China, said in an interview to Bloomberg Television Friday. It is also seeking a $1.5 billion credit line to pay for Chinese imports and activation of a $1.5 billion swap, he added.