By: Staff Writer
March 10, Colombo (LNW): Japan has rescheduled defaulted loans of 369.453 billion yen (about 2.5 billion Us dollars) due from Sri Lanka were rescheduled till 2042, an interest rate below 1 percent, as per a statement from Japan’s Ministry of Foreign Affairs.
Sri Lanka will start repaying loans starting from January 05, 2028 in semi-annual instalments until 2042.Accrued interest from January 01, 2023 to December 31, 2023, will be paid on July 05, 2025.
Interest accruing on or after January 01, 2024 will be paid from July 05, 2025, to July 05, 2042. The loans to the central government will be charged 0.96 percent a year.
Loans to the Airport and Aviation Services (Sri Lanka) Limited, for a new terminal is changed 0.18 percent.
