Sri Lanka and the Republic of Korea have formally exchanged signed Debt Restructuring Amendment Agreements covering 18 loans worth approximately USD 267 million extended through Korea’s Economic Development Cooperation Fund (EDCF), closing the bilateral component of Sri Lanka’s external debt rework with Seoul.
The agreements were exchanged on April 28 during the 2026 EDCF Policy Dialogue at the Ministry of Finance, Planning and Economic Development, NewsFirst reported on Tuesday. The Korean delegation was led by officials from the Ministry of Economy and Finance — Byoungseok Choi and Myeonghui Hwang — and a team from the Export-Import Bank of Korea headed by Director Daehee Kim. The Sri Lankan side was led by Finance Secretary Dr. Harshana Suriyapperuma.
According to the Ministry, the deal “reflects the administrative completion of measures agreed upon under Sri Lanka’s broader debt restructuring process,” reaffirming Korea’s continued support while adapting repayment terms to the country’s current economic framework.
Officials from the Department of National Planning and the Department of External Resources briefed the Korean side on the National Development Plan and progress under Sri Lanka’s debt restructuring programme. The Korean delegation outlined the Republic of Korea’s Framework Plan for International Development for 2026–2030, which will frame future Korean assistance.
The dialogue also reviewed major projects already financed through EDCF concessional loans, and discussed extending the EDCF Framework Arrangement first signed in 2018 — the legal basis for Korea’s concessional lending to Sri Lanka. Future Korean development support will be aligned with Sri Lanka’s national priorities, the Ministry said.
