China leads Sri Lanka foreign lenders in 2009: fiscal report

Author lbostgadmin | Posted on March 3, 2010 | Economy

Mar 03, 2010 (LBO) – China became the top donor to commit aid to Sri Lanka in 2009 lining up more than half the total with 1.

2 billion US dollars, though Japan was still slightly ahead in actual disbursements, a finance ministry report said.

A pre-election fiscal report issued this week ahead of parliamentary polls in April said foreign governments and lending agencies had committed 2,221.

7 million US dollars to Sri Lanka in 2009, which topped the previous high of 2,069 million US dollars in 2008.

The Asian Development Bank was a distant second to China’s with 423.7 million US dollars and the World Bank third with 241.

8 million US dollars.

Korea had committed 76.3 million US dollars, Hungary 70.

2 million US dollars. Netherlands had committed 36.7 million US dollars and Sweden 19.

6 million US dollars.

Japan, Sri Lanka’s traditional top donor had only committed 19 million US dollars in 2009.

Western nations and Japan had taken a back seat in lending to Sri Lanka after relations became strained over the last stages of a war with Tamil Tigers in early 2009, human rights violations and a breakdown in rule of law.

Committed funds are disbursed