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Russia, Sri Lanka sign loan agreement
RBC, 08.02.2010, Moscow 18:44:47.Russia is expected to extend a 10-year loan worth $300m to the Democratic Socialist Republic of Sri Lanka for the purchase of Russian military equipment. Deputy Finance Minister Dmitry Pankin and Sri Lanka's Extraordinary and Plenipotentiary Ambassador to Russia Udayanga Weeratunga signed an agreement to this effect in Moscow today. After the agreement was signed, Pankin told a press conference that the loan was extended at a rate of LIBOR plus 3.5 percent for 10 years. Meanwhile, Sri Lanka may use these funds within the next five years.
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