Chinese bank to set up South Asian branch in Sri Lanka: PM

Aug 23, 2016 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe told Parliament today that a Chinese bank has agreed to set up their South Asian branch here in Sri Lanka.

“China agreed to set up the branch here in Colombo at the proposed financial city,” Wickremesinghe said.

Prime Minister said the concept paper and proposal for the financial city is being discussed and it could be revealed before the end of this year.

“We expect to have discussions about the proposal with China.”

Megapolis Ministry on behalf of the government together with the UDA and the CHEC Port City Colombo recently signed a tripartite agreement for the development of the new Colombo International Financial City replacing the agreement signed by the former Government.