Sri Lanka and China renew $1.4 billion currency swap for 3 years

January 18, 2025 10:52 am

The Central Bank of Sri Lanka (CBSL) and the People’s Bank of China (PBoC) have renewed the Bilateral Currency Swap Agreement signed in 2021, for a period of another three years, under the terms and conditions stipulated in the original agreement.

The CNY 10 billion (approximately USD 1.4 billion) currency swap facility reflects the financial cooperation between China and Sri Lanka, the CBSL said.

Dr. P. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, signed the agreement on behalf of the Central Bank of Sri Lanka, while Mr. Pan Gongsheng, Governor of the People’s Bank of China, signed on behalf of the People’s Bank of China.

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