Sri Lanka, despite struggling with an economic crisis, on Monday paid Bangladesh $50 million of the $200 million loan it received two years ago under a currency swap scheme, local news reports said.
Confirming the deposit of the first tranche by the Sri Lankan authorities, Bangladesh Bank (BB) spokesperson Mesbaul Haque said the first tranche was received last week on August 17.
He also informed that the foreign exchange reserve of the country has increased due to that amount. “We expect the second tranche within this month,” added Haq, an executive director of the central bank.
However, he declined to comment on the amount of the second installment.
In September 2021, Bangladesh extended a loan of $200 million to Sri Lanka from its foreign reserves at a time when Sri Lanka was reeling from an economic shock.
The related one-year loan period ended in September last year.
After that, it was possible to extend the loan repayment period twice in three months till March this year.
Finally, another six months was given till September to pay off the loan.
