Sri Lanka & South Korea Finalize Debt Restructuring & Renew Development Ties 📈

The Government of Sri Lanka and the Republic of Korea (ROK) successfully concluded the 2026 EDCF Policy Dialogue, focusing on financial stability and long-term infrastructure cooperation. • Debt Restructuring: Formally exchanged signed amendment agreements for 18 EDCF loans totaling approximately US$ 267 Mn. This administrative step is critical for Sri Lanka’s ongoing debt sustainability efforts. • Development Financing: Discussed the extension of the 2018 EDCF Framework Arrangement, which serves as the legal foundation for Korean concessional loans provided to Sri Lanka. • Strategic Alignment: The dialogue aligned Korea’s International Development Framework Plan (2026–2030) with Sri Lanka’s recovery priorities. Technical reviews were conducted for major projects in infrastructure and national development. • Key Stakeholders: Co-chaired by Dr. Harshana Suriyapperuma (Ministry of Finance, Sri Lanka) and the Korean Ministry of Economy and Finance, with representatives from the Export-Import Bank of Korea (KEXIM). The session concluded with the signing of the Minutes of Dialogue (MOD), reinforcing bilateral commitment to infrastructure and economic recovery.