Lankapage Logo Recent Top Stories
CP 12 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka grants a credit facility of US$ 10 million to Maldives
Fri, Aug 19, 2011, 12:54 am SL Time, ColomboPage News Desk, Sri Lanka.

Aug 18, Colombo: Sri Lanka has granted a US$ 10 million credit facility to the Republic of Maldives, the state media announced Thursday.

An agreement between the Government of Maldives and the Bank of Ceylon, through which the credit facility is administered, was inked Thursday in Colombo in the presence of the President of the Maldives Mohammed Nasheed.

The agreement would be beneficial for economic development of the two countries and will help Sri Lanka to increase its export earnings, the government said.

The credit facility is expected to encourage the Maldives to import food supplies, especially fruits and vegetables from Sri Lanka to the hotels in the atolls.

Speaking at the function, the Maldivian leader said Sri Lanka is the main trading partner of his country and he hopes to further strengthen the relationship.

He added that Maldivian government will take measures to remove more customs duties on goods imported from Sri Lanka.

Observing that Sri Lanka has achieved rapid economic development during the two years since the end of the war in May 2009, Nasheed said it is an immense achievement for a country that suffered a three-decade long war.

Chairman of the Bank of Ceylon Dr. Gamini Wickremasinghe has said that the Bank expects to open another branch in Maldives before the next SAARC summit to benefit the Sri Lankan exporters and strengthen trade relationships.

Deputy Minister Geethanjana Gunawardena and General Manager of the Bank of Ceylon Mrs. W.A. Nalini were also present at the exchange of the documents related to the credit facility.



ColomboPage - Recent 10 Stories
Sri Lanka National Chamber hosts B2B meetings with Czech delegation
-- [4 hours ago]
Sri Lankan PM vows to fight corruption, strengthen economy, develop the country
-- [5 hours ago]
Sri Lanka Air Force asks MoD to take action against former director of operations - report
-- [6 hours ago]
In Pictures: Sri Lanka Freedom Party May Day rally in Galle
-- [6 hours ago]
Sri Lanka Transport Board paid Rs. 42 million to ferry people to May Day rallies
-- [7 hours ago]
WIPO commends Sri Lanka for concrete deliverables under IP Action Plan
-- [7 hours ago]
Sri Lanka celebrates World Labor Day today
Northern Province CM issued notice to appear in apex court over NPC resolution - report
Sri Lankan PM emphasizes the responsibility of Labor unions to safeguard the rights of the workers
Sri Lankan President calls for a firm commitment to make the victories achieved by working people a reality

Copyright © 2000, 2010 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.