Sri Lanka has entered into a bilateral agreement with CREDENDO – the Export Credit Agency of Belgium to reschedule an outstanding external debt amounting to 9.6 million euros, as part of the Government’s ongoing external debt restructuring efforts aimed at restoring debt sustainability and strengthening economic recovery.

Following bilateral discussions held after the conclusion of the Memorandum of Understanding (MoU) with the Official Creditor Committee (OCC), CREDENDO – Export Credit Agency of Belgium has agreed to provide debt relief by rescheduling Sri Lanka’s outstanding debts, according to the Ministry of Finance, Planning and Economic Development.

The bilateral agreement was signed by Dr. Harshana Suriyapperuma, Secretary to the Ministry of Finance, Planning and Economic Development, on behalf of the Government of Sri Lanka, and by Dirk Terweduwe, Chief Executive Officer, on behalf of CREDENDO.

Under the agreement, the estimated value of the rescheduled debt amounts to Euro 9.6 million, the statement said.

The Ministry noted that entering into this agreement will further strengthen the deep and longstanding bilateral relations between Belgium and Sri Lanka.

The Government of Sri Lanka also expressed its sincere appreciation to Belgium for its continued support and cooperation throughout the debt restructuring process.