Thursday, February 12

Tag: concessionary loan

Sri Lanka to secure financial aid from Hungary for development Projects
8Dec By Faraz ShauketalyNo Comments
Business

Sri Lanka to secure financial aid from Hungary for development Projects

The Government of Hungary has agreed to provide funds for the development of some of the projects implemented by the Government of Sri Lanka, a statement on cabinet decisions said. Under this program, concessionary loan facilities in a sum of Euro 149 million will be provided through the Export and Import (EXIM) Bank of Hungary for several development projects. Out of the funds, Euro 53 million will be allocated for Bingiriya - Udubaddawa Water Supply Project and Euro 52 million for construction of flyovers at Kohuwala, Kirulapona and Yangalmodara. Euro 32 million will be spent for an Electronic Court Management System and Euro 12 million for a Railway Level Crossing Protection Project. The proposal made by Prime Minister Ranil Wickremesinghe in his capacity as the Minister of ...
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Republic of Korea agrees to grant a US$ 500 mn concessionary loan to Sri Lanka for economic development
10Nov By Faraz ShauketalyNo Comments
Business

Republic of Korea agrees to grant a US$ 500 mn concessionary loan to Sri Lanka for economic development

The Government of Korea has agreed to grant a concessionary loan of a sum equivalent to US$ 500 million to Sri Lanka for development purposes with a view to further strengthening the friendship and the economic cooperation between the two countries. The loan is scheduled to be given within the period from 2017 to 2019 from the Economic Development Corporation Fund of the Export and Import Bank of Korea. The Korean loan aid is granted at very low interest rates with a 40 year repayment period including a 10 year grace period. Accordingly, the Prime Minister Ranil Wickremesinghe in his capacity as the Minister of National Policies and Economic Affairs has made a proposal to enter into a Framework Agreement with the Government of the Republic of Korea to obtain the concessionary loan...
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