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    World Bank gave Rs 88,192 Mn loans and grants to Lanka in 3 years

    October 29, 2014

    The World Bank has given a total of Rs 84,185 million in loans and Rs 4,007 million in grants to Sri Lanka in the years 2011, 2012 and 2013.

    Responding to a question raised by UNP Colombo District MP Ravi Karunanayake in Parliament today, Senior Minister of International Monetary Cooperation and Deputy Finance Minister Dr Sarath Amunugama said that Sri Lanka received Rs 16,539 million in 2011 and Rs 41,798 and Rs 25,849 in 2012 and 2013 respectively as loans.

    The period of the loans varied between 20 years to 25 years, with accordance with the completion of various projects the loans would be supporting.

    Minister Amunugama said that the average annual interest for these loans is Rs 763 million. There are no interest rates with regards to the grants that were given.

    Several projects had been initiated using the loans given by the World Bank. (Special Reporter/HC) 

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