The financing pledge came on the same day as China’s CHEC announced plans to invest $1.56 billion in a port city project near Colombo

Alongside additional support from China this will mean all funding requirements have been met, President Ranil Wickremesinghe said

The Export-Import Bank of China has offered to ease Sri Lanka's financial woes with a two-year moratorium on its debt repayments

The island nation is looking at $12 billion of overseas debt and fuel and food shortages have led to widespread social unrest

Sri Lanka is also in talks with China, which along with Japan is one of the country’s two largest foreign creditors, over a $4 billion aid package

Many protesters dislike the new president, but MPs felt his experience was vital given the country's dire economic state. IMF says it hopes to complete bailout talks with Sri Lanka as soon as possible

A state of emergency has been declared to prevent further unrest in Sri Lanka in the lead-up to a vote in parliament on Wednesday to select a new president

Gotabaya Rajapaksa, his wife and two bodyguards left aboard a Sri Lankan Air Force plane bound for the Maldives, while protesters tried to oust Prime Minister Ranil Wickremesinghe

Leaders of the protest movement have said crowds will keep occupying the residences of the president and prime minister in Colombo until they finally leave office

Central Bank of Sri Lanka raises its Standing Lending Facility to 15.5% and Standing Deposit Facility Rate to 14.5%, the highest in 21 years

The neighbours are also in talks for additional support, including a $500 million credit line for fuel and help with importing fertiliser and rice, officials said.

The country of 22 million people is struggling with its worst financial crisis in seven decades, unable to import essentials including food, fuel and medicines