The Bangladesh Bank completed disbursement of the $200-million bailout fund to Sri Lanka, which was hitted severely by the corona pandemic. This is the third tranctch.
The disbursement was fully executed to the island nation at a time when the country announced a state of emergency over food shortage, instigating Sri Lankan central bank governor Weligamage Don Lakshman to step down over his failure to resolve the forex reserve crisis.
On August 19 and 30 in 2021, the BB released $50 million as the first tranche and $100 million as a second instalment respectively.
The initial tenure of the currency swap agreement was fixed at three months while the agreement contained a rollover condition, allowing Sri Lanka to extend the period of repayment of the financing facility.
Sri Lanka will return back the money along with interest within one year.
Source: New Age