China, Sri Lanka extend currency swap facility for 3 years

Colombo, Jan 18 (PTI) China has extended its 10 billion yuan or USD 1.4 billion currency swap facility to Sri Lanka by three years.

“The Central Bank of Sri Lanka and the People’s Bank of China, in December 2024, successfully renewed the Bilateral Currency Swap Agreement signed in 2021, for a period of another three (3) years, under the terms and conditions stipulated in the original agreement,” the Central Bank of Sri Lanka said.

The announcement came in the joint statement issued at the end of a four-day official visit to China by President Anura Kumara Dissanayake on Thursday.

China had extended the swap facility during the ousted president Gotabaya Rajapaksa’s tenure.

Dissanayake went to China on his second overseas trip since being elected president in September. His first visit was to Delhi in December when he called on Indian Prime Minister Narendra Modi. PTI CORR MR MR