Sri Lanka to borrow $1.4B from WB, JICA, and ADB

The government plans to borrow $1.4 billion from the Japan International Cooperation Agency (JICA), World Bank (WB)and Asian Development Bank (ADB) over next five years.

Delivering 2021 Budget speech Prime Minister & Finance Minister Mahinda Rajapaksa announced these plans while noting that debt to GDP ratio would be reduced to 70 percent in medium term from current 90 percent.

The goverment has over $4 billion in external debt repayments per annum over the medium term.