The Bank of china is to open a branch in Sri Lanka's capital later this year, the Daily Mirror reported.
China's spokesperson at the embassy reportedly told the paper that it would be opened with an initial capital of US$ 90 million with the aim of facilitating financial transactions between the two states.
If opened this would be the first branch of China's state bank in South Asia. Overseas branches are currently located in the US, UK, Canada, Kenya and South Africa.
Sri Lanka is one of the most dangerous places in the world to be a journalist. Tamil journalists are particularly at threat, with at least 41 media workers known to have been killed by the Sri Lankan state or its paramilitaries during and after the armed conflict.
Despite the risks, our team on the ground remain committed to providing detailed and accurate reporting of developments in the Tamil homeland, across the island and around the world, as well as providing expert analysis and insight from the Tamil point of view
We need your support in keeping our journalism going. Support our work today.
