November 17, 2018

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    Japanese financial assistance under concessionary interests Featured

    June 03, 2016

    President Maithripala Sirisena has won many direct investments and obtained funds at concessionary interest rates to develop Sri Lanka by attending the G7 summit in Japan.

     

    Deputy Minister of Foreign Affairs Dr. Harsha de Silva pointed out the government of Japan lends a fund loan of Yen 38 billion to Sri Lanka for the infrastructure developments under an interest of 0.1 percent.

     

    In addition, developing the infrastructures in Sri Lanka, the government of Japan has allocated USD 300 million under the same interest rate for the constructions of the new Kelani flyover and for another flyover from Welikada to Rajagiriya, which is connected to the above new Kelani flyover. The third phase of the central expressway will also be constructed by the Japanese government.

     

    Deputy Minister said, “The GSP plus relief will be obtained in the nearby future after a few steps are fulfilled by the Sri Lankan government.” Receiving of the GSP plus relief will cause to increase the investments in Sri Lanka, to reduce the taxes imposed on the people, and to decrease the debt burden.

     

    According to him, all the world leaders, who met the President Sirisena at the G7 has assured their extended support for Sri Lanka in this regard.

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