German Help

Germany has extended two loans worth 20 million euros each to Sri Lanka to be utilized for long-term investments by private sector companies, the Finance Ministry said Thursday. Germany has extended two loans worth 20 million euros each to Sri Lanka to be utilized for long-term investments by private sector companies, the Finance Ministry said Thursday. The loans will be made available through Sri Lanka’s National Development Bank and DFCC Bank for “refinancing of long term investments,” the ministry said in a statement.

“The loan proceeds can be utilized to finance procurement of machinery, civil construction and initial working capital related to investments,” it said.

The loans are being provided by the German Reconstruction Bank. – Dow Jones