BB completes disbursement of $200m bailout fund to SL

The Bangladesh Bank completed disbursement of $200 million of its bailout fund to cash crisis-hit Sri Lanka on Tuesday. 

A senior BB official said that the central bank released the last tranche of the loan on Monday, which was supposed to be released by Tuesday by the Federal Reserve Bank of New York.

The third tranche was $50 million. On August 19, BB released $50 million as the first tranche of the currency swap deal to support poorly-rated Sri Lanka and another $100 million as the second instalment on August 30. 

The disbursement was fully executed to the island nation when the country announced a state of emergency over food shortage, prompting Central Bank of Sri Lanka Governor Weligamage Don Lakshman to step down as he could not resolve the forex reserve crisis.