Mar. 02 (LBO) – Sri Lanka Thursday signed up for Rs. 19.4 billion loans from Japan to develop three key infrastructure projects, the finance ministry said. The concessionary finance package will be split between the Galle port development project (Rs. 13.75 billion), pro-poor eastern infrastructure development project (Rs. 3.95 billion) and the tourism resources improvement project (Rs. 2.32 billion), the statement said.
Funds for the Galle project will be used to:
Construct a Breakwater
Construct a Multipurpose Terminal (1 berth)
Dredge the Approach Channel & Turning Basin
Procure and Install Auxiliary Equipment and Navigation Aid required for Modern port facilities.
The eastern infrastructure project will repair part of the tsunami-damaged main highway that connects the Eastern province.
Funds allocated for the tourism promotion component will cover human resources and infrastructure facilities in areas of Colombo, Kandy, Negombo, Sigiriya, Anuradhapura and Nuwara Eliya
Part of the funds will also be used to conduct marketing and promotional campaigns in Japan.
Today’s lending agreements were signed between Japa