Foreign Ministry Spokesperson Wang Wenbin speaking at the Regular Press Conference said that China will continue maintaining friendly communication with other creditors and jointly play a positive role in helping Sri Lanka navigate the situation, ease its debt burden and achieve sustainable development.

He told reporters that, as an official creditor, the Export-Import Bank of China tentatively agreed with Sri Lanka on the debt treatment, and the Sri Lankan side has released relevant information.

he Government announced that it has reached an agreement on the key principles and indicative terms of a debt treatment with the Export-Import Bank of China (“China Exim bank”).

The agreement in principle covers approximately USD 4.2bn of outstanding debt. It constitutes a key step towards restoring Sri Lanka’s long-term debt sustainability and will pave the way to a prompt economic recovery.