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In order to further strengthen the economic cooperation between the two countries, the Government of Republic of Korea has agreed to provide a concessional loan from the Economic Development Cooperation Fund (EDCF) of the Export Import Bank of Korea (KEximbank). Accordingly, the Government of Republic of Korea and Government of Sri Lanka have agreed to sign a new Framework Arrangement for the period of 2020-2022, to obtain loans through the EDCF up to an aggregate commitment amount of US $ 500 million, to finance projects mutually agreed.
