China Sri Lanka’s top lender, India gives most grants to Aug

Nov 10, 2012 (LBO) – China was Sri Lanka’s top lender up to August 2012 disbursing 443.6 million US dollars in loans and export credits and India has give the most amount of grants followed the United States and Japan, finance ministry data shows. The finance ministry’s fiscal management report shows that China has also committed a further 1,055 million US dollars and 0.16 million US dollars of grants up to August. India has committed 257.28 million US dollars in grants.

India has disbursed 179.9 million US dollars in loans and 34.8 million US dollars in grants that need not be paid back. India is financing houses for war refugees and low income households as a grant project.

Various UN agencies had also given 34.8 million US dollars in grants, the USA 18 million US million followed by Japan with 9.8 million US dollars.

Japan disbursed another 280.2 million US dollars in loans, Asian Development Bank disbursed 174.6 million dollars (including 4.0 million dollars in grants), the World Bank 106.3 million US dollars (1.5 million in grants).

Iran had disbursed a a 38.4 million US dollar export credit, the European Investment Bank 32 a million US dollar loan and Korea gave a 24.9 million dollar export credit from Sweden.

A tota