Rs.46 billion loan from Japan to Sri Lanka

Japan Sri Lanka flags

Japan International Cooperation Agency (JICA) has taken steps to grant Sri Lanka a loan of Rs.46, 622 million or approximately Yen 33,137million, to enable the government to maintain its financial stability, continue its development agenda within the next five years and achieve its development goals.  Yen 10, 000 million out of the total loan have been granted as development policy loans.

Under this tranche, the background will be set up to improve the management in the public sector and the competitiveness of the private sector to build financial stability to implement the development agenda.

In addition, Rs.32, 169 million or approximately Yen 23,137 million will be made available to implement the second phase of the Anuradhapura North Water Supply Project.  This project will be implemented to prevent the current fast spreading kidney disease in the North Central Province. The project will cover the divisional secretariats of Padaviya, Kebithigollewa, Horowpothana and Kahatagasdigiliya.

The exchange of documents with regard to this loan was taken place and, the agreement with regard to the Development Policy Loan Project was signed on October 10 at the Ministry of Finance.

Japanese Ambassador to Sri Lanka Kenichi Suguma signed the agreement on behalf of the Government of Japan while Deputy Secretary of the Treasury Mrs.G.D.C. Ekanayake singed it for the Government of Sri Lanka.

Vice Chairman of JICA Hidetoshi Irigaki, Special Advisor to the Japanese Prime Minister Hiroto Izumi, National Policy and Economic Affairs State Minister Niroshan Perera and Director General of Foreign Resources Department Priyantha Rathnayake were present at the event.

(Government News Portal)