An Agreement on Economic and Technical Cooperation between the Government of the People's Republic of China and the Government of Sri Lanka, providing 600 million RMB yuan (LKR 16.5 billion) in grant assistance, was signed by  Wang Xiaotao, Chairman of China International Development Cooperation Agency (CIDCA) and S.R. Attygalle, Treasury Secretary of the Ministry of Finance.

The agreement as signed on the  on the sidelines of the visit by a high level Chinese delegation to the country, a  press release issued by  Luo Chong, Spokesperson / Chief of Political Section of the Embassy of the People's Republic of China in Sri Lanka said.

Both President  Gotabaya Rajapaksa and Prime Minister  Mahinda Rajapaksa extended their sincere appreciation on behalf of the Sri Lankan Government and people to the Chinese side for this urgently needed assistance, the release said.

The funds are to be utilized with a high priority on medical care, education, and water supply etc. in rural areas of Sri Lanka, so as to contribute to the well-beings of her people in a post-COVID era.

During the meeting between . Yang Jiechi, member of Political Bureau of CPC and the Prime Minister , they had discussed other Chinese grant projects such as the National Nephrology (Kidney Disease) Hospital in Polonnaruwa and the new Out-Patient Department (OPD) of National Hospital in Colombo etc. and expressed their satisfaction on the good progress despite the COVID-19 pandemic, the Chinese Embassy said.