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Sri Lanka facing delays to China loan

Sri Lanka is facing delays in receiving a $300 million (USD) loan offered by the Bank of China, Reuters reports.

The loan was due to be released before the end of January but is now unlikely to be finalised until later this month.

A Sri Lankan government official told Reuters that the negotiation, which was due to be closed in the last week of January, had dragged on after the Chinese bank had asked for “in-depth and lengthy data unlike in the previous negotiations” to compile the loan and the Finance Ministry needed more than a week to compile the data.

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