Help at Hand

CEAT Kelani Holdings Managing Director Ravi Dadlani (right) and Lanka Ashok Leyland CEO Umesh Gautham exchange the OEM agreement

ThernrnAsian Development Bank on Thursday approved a rnUS$ 80 million loan package to improve daily living conditions in the North and rnEast of Sri Lanka.

The project will focus its activities on the most-severely conflict-affected districts: Jaffna, Mannar, Kilinochchi, Mullaittivu, Vavuniya, Trincomalee, Batticaloa, and Ampara, where essential infrastructure will be rehabilitated along with restoring community livelihoods.rn

rnrnAsian Development Fund (ADF) and $30 million from its ordinary capital rnresources (OCR). rn

rnThe ADF loan has a 40-year term, including a grace period of 10 years with an interest rate of 1% per annum, and 1.5% per annum thereafter.rn

rnThe OCR loan has a 32-year term, including a grace period of eight years. rn


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