BOC, China Development Bank to sign USD 140 mn facility agreement

Bank of Ceylon (BOC) and China Development Bank (CDB) will enter into a USD 140 million long-term facility where drawdown will be under two tranches of USD 70 million each. The signing ceremony for the facility agreement will be held June 30, 2020.The facility will be utilized for supplementing Bank of Ceylon, which will provide much needed support during Sri Lanka’s fight against COVID-19 a release from BOC said.

As the largest commercial bank in Sri Lanka, Bank of Ceylon considers itself as the Bankers to the Nation, while China Development Bank is the world’s largest development financial institution and the largest Chinese bank for financing cooperation, long-term lending and bond issuance.