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Bangladesh extends validity of $ 200Mn credit facility by three months

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COLOMBO (News 1st); The Bangladesh Bank (BB) has extended validity of the credit facility it extended to Sri Lanka by three months after the expiry of the first three-month tenure of the credit facility, the New Age reports, citing a senior official of the Bangladesh Bank.The New Age further reports that the loan facility has been renewed following a request from the Sri Lanka itself.

Previously, Bangladesh extended the credit facility amounting to $200 million under a currency swap deal with Sri Lanka, and the country received the loan facility from Bangladesh in three tranches.The BB released $50 million as the first tranche under a currency swap deal to support Sri Lanka on 19th August, 2021.The second tranche amounting to $100 million.

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