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China to loan Sri Lanka $290 mln for airport, railways
COLOMBO, March 10 (Reuters) - China has agreed to lend $290 million to Sri Lanka to build a new airport and revive its railway network, the island nation's foreign ministry said on Wednesday.
China will provide a $190 million loan through its funding arm, Exim Bank, to construct the island's second airport and $100 million to boost the capacity of the Sri Lankan railway, the ministry said in a statement.
China was the largest foreign funding source for Sri Lanka in 2009 with $1.2 billion followed by the Asian Development Bank with $424 million.
UPDATE 1-China to loan Sri Lanka $290 mln for airport, railways | Quotes | Company News | Reuters