Lankapage Logo CP 18 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Republic of Korea agrees to grant a US$ 500 mn concessionary loan to Sri Lanka for economic development
Fri, Nov 10, 2017, 12:28 am SL Time, ColomboPage News Desk, Sri Lanka.

Nov 10, Colombo: The Government of Korea has agreed to grant a concessionary loan of a sum equivalent to US$ 500 million to Sri Lanka for development purposes with a view to further strengthening the friendship and the economic cooperation between the two countries.

The loan is scheduled to be given within the period from 2017 to 2019 from the Economic Development Corporation Fund of the Export and Import Bank of Korea.

The Korean loan aid is granted at very low interest rates with a 40 year repayment period including a 10 year grace period.

Accordingly, the Prime Minister Ranil Wickremesinghe in his capacity as the Minister of National Policies and Economic Affairs has made a proposal to enter into a Framework Agreement with the Government of the Republic of Korea to obtain the concessionary loan.

The Cabinet of Ministers at its weekly meeting on November 7 has approved the Prime Minister's proposal.

 

ColomboPage - Recent 10 Stories ::
No plans to remove any subjects from GCE/O Level Syllabus - Education Minister
-- [25 minutes ago]
Rs. 3 million contract given to murder Kiri Vehera Chief Incumbent - Police
-- [52 minutes ago]
Gestetner subsidiary Fintek to distribute Sharp products in Sri Lanka
-- [2 hours ago]
'Gamperaliya' program initiated to make a huge revolution in village development - President.
ICC charges Sri Lanka captain Dinesh Chandimal with ball-tampering
Sri Lanka Customs nabs two Chinese nationals attempting to take Kothala Himbutu and sea horses
Government to find a solution to prevent crop damage by wild animals
Three suspects arrested for shooting Kiri Vehera Chief Incumbent
Sri Lanka Cricket denies any wrongdoing with the ball, continuing the match 'under protest'
Postal workers urged to stop trade union action and come for discussions

Copyright © 2000, 2016 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.