MIGA, the World Banks insurance arm, says it is entertaining 12 proposal from foreign investors, to fund projects worth over US$ 1 bn in Sri Lanka.
ldblquote There is tremendous investor appetite since the ceasefire started and the economy is growing faster. There is lot of interest for infrastructure projects, so inquiries have come our way to take insurance for political risk,
dblquote says Multilateral Investment Guarantee Agency (MIGA), Executive Vice President, Motomichi Ikawa.rn
rnIkawa told reporters on Friday that foreign investor interest ranges from power (coal and diesel), toll roads, water treatment plants, telecom, tourism, mining, ports, airports and petroleum.rn
rnHe declined to name the firms behind the projects, but said some were Fortune 500 companies.rn
rnldblquote But they are from Japan, Malaysia, UK, Singapore, India and Korea,
dblquote Ikawa said.rn
rnThe Board of Investment is hoping to net in US$ 300 mn worth of foreign direct investment or FDI this year, its Chairman