Sri Lanka receives strong interest for proposal to raise US$ 500 million
Sri Lanka only called for proposal on June 17 with a deadline of June 30, giving less than two weeks.
The deadline had now been extended to July 17.
Sri Lanka is seeking foreign currency term financing up to US$ 500 million at a premium to the London Interbank Offered Rate.
Despite external and internal economic challenges, Sri Lanka’s economy is on the path to return to normalcy. Sri Lanka’s geographical positioning in the Indian Ocean, ease of doing business environment and the many trade agreements as well as trade concessions enjoyed by the country have helped the island become a business hub in the South Asian region. The interest shown on Sri Lanka’s move to raise US$ 500 million is indicative of the level of interest/confidence in the country’s economy. Foreign businesses/investors could therefore explore business/investment opportunities in Sri Lanka.
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