China has extended its US $1.4 billion currency swap arrangement with Sri Lanka, as confirmed by the Central Bank of Sri Lanka.
The Bilateral Currency Swap Agreement, originally signed in 2021, was successfully renewed for another three years in December 2024.
The renewal maintains the same terms and conditions as the original agreement and reflects ongoing financial cooperation between China and Sri Lanka.
Central Bank of Sri Lanka Governor Dr. P. Nandalal Weerasinghe signed the renewal agreement on behalf of Sri Lanka, while Governor Pan Gongsheng signed for the People’s Bank of China.
The original 2021 agreement, worth US $1.5 billion, aimed to promote bilateral trade and encourage direct investment to support economic development between the two nations.
The currency swap arrangement, now valued at CNY 10 billion, will continue to enhance financial ties between the two countries.
