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Sri Lanka to obtain USD75mn loan from IDA

July 05, 2017 (LBO) – Sri Lanka’s cabinet has approved a proposal to obtain a loan amounting of 75 million US dollars for a financial sector modernization project. Following discussions on the matter, the initial interest rate has increased from 3.20 percent to 3.36 percent, a cabinet decision said, without giving details. Accordingly, the cabinet approval has been granted to sign the loan agreement with IDA for obtaining SDR of 55.
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4 million which is equal to 75 million dollars.