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March 25, 2019

$989M from China for Sri Lanka bridge

COLOMBO, Sri Lanka (AP) — China has agreed to provide a loan of $989 million to Sri Lanka to build an expressway that will connect the island nation's tea-growing central region to a China-run seaport on the southern coast.

A finance ministry statement said Friday that the Export-Import Bank of China has agreed to provide a concessional loan covering 85 percent of the contract prices for the expressway, whose total estimated cost is $1.16 billion.


 
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