Lankapage Logo Recent Top Stories
Go Home Home Serving the Sri Lankan community globally since 2000
go to

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
Jaffna University students peacefully protest demanding justice for colleagues' deaths
-- [3 hours ago]
Sri Lankan government to abolish the minimum room rates imposed on city hotels from March 2017
-- [3 hours ago]
Sri Lanka needs a new Constitution since the war ended - PM
-- [3 hours ago]
Sri Lanka Marxist party says 2017 budget is an 'empty shell'
-- [4 hours ago]
Meeriyabedda landslide displaced families get 75 new Army-built houses
-- [5 hours ago]
Price reduced drugs through Osusala from today
-- [5 hours ago]
Three missing Sri Lankan fishermen stranded in Dhanushkodi
No room in the country for conflicts based on languages - President
Sri Lankan sailor found dead in ship at Dhamra port in Odisha
Rangana Herath to captain Sri Lanka in Zimbabwe

Copyright © 2000, 2010 by (LLC) :
The news and other contents on ColomboPage are copyrighted property of, 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, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.