Sri Lanka’s top lenders in 2010; China, capital markets

Sri Lankan President Maithripala Sirisena (L) and Sri Lankan Prime Minister Ranil Wickremasinghe gesture as Sri Lankan Finance Minister Ravi Karunanayake (unseen) presents a supplementary budget to parliament, marking the first economic policy statement of the new government which came to power earlier in the month in Colombo on January 29, 2015. Sri Lanka's new government announced hefty taxes on top companies in a bid to raise revenue, accusing the previous regime of fudging the figures and leaving the economy in a "sad state". AFP PHOTO / Ishara S. KODIKARA (Photo credit should read Ishara S.KODIKARA/AFP/Getty Images)

Nov 24, 2010 (LBO) – China has become Sri Lanka’s top bilateral lender up to September 2010, displacing Japan both in commitments and disbursements, but international capital markets dwarfed traditional lenders via billion dollar bond a month later. The government was now sitting on an aid pipeline of 6,968 million US dollars which included 1,156.6 million dollars for power and energy and 1,701 million US dollars for roads and transport, 887.3 million US dollars for water supply and sanitation.


Up to end-September a total of 1,460.3 million US dollars of loans were disbursed.

In actual disbursements also China led the tables with 643.7 million US dollars of which 545 million US dollars were export credits, according to finance ministry data.

The disbursements were swelled with a 445.5 million US dollar tranche given to state-run Ceylon Electricity Board to build the second stage of a 900 Megawatt coal power complex. The power plant is a high-return, long overdue project.

Japan disbursed 237.1 million US dollars.

The Asian Development Bank had disbursed 187.1 million US dollars including 17.2 million US dollars and the World Bank 120.5 million US dollars.

Update II Sri Lanka has racke