Sri Lanka Signs $308 Mn Loan Deal With China To Revive Economy

Sri Lanka seals a two billion Renminbi ($308 million) loan agreement with China as its economy is facing a downfall due to the ongoing Covid situation in the country. Sri Lanka's economy is dependent majorly on its tourism sector, which has been severely hit due to the pandemic. According to the Chinese embassy, the loan amount will help Sri Lanka revive its economy, in Covid-19 responses, and financial stability".