The first tranche of the $ 250 million loan from Bangladesh, a $ 50 million, will be provided to Sri Lanka this week.
It is to assist Sri Lanka, which is suffering from a foreign exchange crisis. This loan is in accordance with the Exchange Agreement signed between the Bank of Bangladesh (BB) and the Central Bank of Sri Lanka (CBSL) under the First Loan Scheme from Bangladesh to any country.
The deal will provide $ 250 million to boost the island’s rapidly declining foreign reserves and ease pressure on its exchange rate.
The loan will be disbursed in three stages. The first installment of the Central Bank loan will be released this week. The remaining two installments include $ 100 million each.
