OPEC funds rural development scheme
[March 8, 2002 - 9.30 GMT]

The OPEC Fund for International Development has signed an agreement with the Sri Lankan Government to grant a loan of US$5 million (Rs. 470 million) to help finance a multi-faceted rural development scheme. 

The scheme aims at providing financial and development support to 8,500 small, medium and micro enterprises and rehabilitation of over 1,000km of roads that provide important transport links. 

The Fund has extended nine other loans to Sri Lanka. Two loans for balance of payments support, and the rest to finance projects in the energy, multi-sectoral, agriculture and education sectors. 

Sri Lankan Ambassador in Austria Anil Moonesinghe and OPEC Fund Governing Board Chairman, Dr. Saleh A. Al-Omair signed the financial support agreement in Vienna last week.

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Last Updated Date: March 8, 2002  - 9.30 GMT.