Apr 03, 2013 (LBO) – Japan will continue to support Sri Lanka if peace is maintained and with the economy also on a growth path, visiting Japanese deputy prime minister and finance minister Taro Aso said.
“Considering that the Sri Lankan economy keeps on the current growth trajectory and given that peace and security would be maintained in this country, then Japan is a position to support Sri Lanka,” Aso told reporters in Colombo speaking through an interpreter.
“The current government under Abenomics (Prime minister Shinzo Abe’s expansionary economic strategy) is placing emphasis on providing yen loans to Sri Lanka.
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In March when President Mahinda Rajapaksa visited Japan involving 41 billion yen (53 billion rupees) Yen loan package was signed. Since 1978 1.1 trillion rupees worth aid has been given to Sri Lanka.
Sri Lanka is the largest foreign recipient of Japanese foreign aid per person, officials say. Japan has funded roads, hospital, ports, airports and power plants. The Japan International Co-operation also said it is ready to finance a mass rapid transit system in Colombo.
Japan’s expansionary policy which is aimed at expanding economic activity will also benefit other Asian na