Chinese Foreign Minister to visit Sri Lanka in January

Chinese Foreign Minister Wang Yi will pay an official visit to Sri Lanka from 8 to 9 January 2022.

The Chinese Embassy in Colombo said Foreign Minister Wang Yi will visit Sri Lanka to launch the celebration of the 65th Anniversary of China-Sri Lanka diplomatic relations.

It is reported that the visit will be a courtesy call, of the Chinese Foreign Minister to inquire into a range of private sector investments across the island.

Chinese Foreign Minister Wang Yi’s visit comes at a time when Sri Lanka is grappling with an economic crisis. 

Sri Lanka obtained a Foreign Currency Term Financing Facility (FTFF) of $ 1 billion from the China Development Bank in 2018, and another $ 500 million in March 2020. 

In early April 2021, Sri Lanka signed an agreement with the CDB to obtain $ 500 million as an FTFF. 

Last week (20), Central Bank Governor Ajith Nivard Cabraal said Sri Lanka may also drawdown on a $ 1.5 billion equivalent Renminbi swap with the People’s Bank of China. (NewsWire)

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