Loving Italy

Italy today signed off a deal that will write off Sri Lanka’s debt to the EU member state , adding up to Rs. 850 million (Euro 7.13 million). Italy today signed off a deal that will write off Sri Lanka’s debt to the EU member state , adding up to Rs. 850 million (Euro 7.13 million). Sri Lanka is expected to use the monies, which would otherwise have to be paid back to Italy, towards tsunami reconstruction and rehabilitation.

The Italian government has so far signed three separate deals with Sri Lanka for rehabilitation and reconstruction work of tsunami damage infrastructure, schools and fisheries sector activities.

-LBO Newsdesk: lboemail@vanguardlk.com