Sri Lanka’s top lenders in 2010; China, capital markets

Nov 24, 2010 (LBO) - China has become Sri Lanka's top bilateral lender up to September 2010, displacing Japan both in commitments and disbursements, but international capital markets dwarfed traditional lenders via billion dollar bond a month later. The government was now sitting on an aid pipeline of 6,968 million US dollars which included 1,156.

6 million dollars for power and energy and 1,701 million US dollars for roads and transport, 887.3 million US dollars for water supply and sanitation.

Disbursements

Up to end-September a total of 1,460.3 million US dollars of loans were disbursed.

In actual disbursements also China led the tables with 643.
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7 million US dollars of which 545 million US dollars were export credits, according to finance ministry data.

The disbursements were swelled with a 445.5 million US dollar tranche given to state-run Ceylon Electricity Board to build the second stage of a 900 Megawatt coal power complex. The power plant is a high-return, long overdue project.

Japan disbursed 237.1 million US dollars.

The Asian Development Bank had disbursed 187.1 million US dollars including 17.

2 million US dollars and the World Bank 120.5 million US dollars.

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