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China Sri Lanka's top lender, India gives most grants to Aug
10 Nov, 2012 08:53:39
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 total of 1,499.7 million US dollars of foreign financing including 102.8 million US dollars of grants had been disbursed.

In the first eight month of the year the finance ministry had bagged commitment of another 2.8 billion US dollars of loans and 349 million dollars of grants with 257.28 million coming from India.

India had also committed loans of 443 million US dollars bringing the total to 700.34 million US dollars, just behind China 1,055.16 million dollars of fresh commitments.

Japan which had given the most amount of loans to Sri Lanka had committed another 521 million US dollars (12.56 million in grants) the World Bank 331.83 million US dollars (7.0 million in grants).

Netherland had 102.5 million dollars, Germany 39.69 million US dollars (5.26 million in grants) UN agencies 88.79 million with 66.7 million dollars in grants.

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