Boost for Sri Lanka tourism industry

[May 16, 2006 - 9.30 GMT]

The Ministry of Tourism has secured a loan under Japan's Official Development Assistance for Tourism Resources Improvement Project (TRIP). This is a first in the history of Sri Lankan tourism.

The soft loan amounting to Rs. 2.3 billion repayable in 20 years with a grace period of six years at an interest rate of 0.9% per annum, has been approved by the Japan Bank for International Cooperation (JBIC).

The loan will be utilized to target the development of infrastructure facilities to enhance tourism in Sri Lanka such as the rehabilitation of lakes, approach roads to national heritage sites, the beautification of related towns, cities, parks and beaches, providing more facilities for tourists visiting these sites, the formulation and implementation of strategic marketing programmes to attract more tourists to Sri Lanka and to improve training facilities for human development in the hospitality industry.

The project will be implemented in Nuwara Eliya, Negambo, Sigiriya, Anuradhapura, Kandy and Colombo.

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Last Updated Date: May  16, 2006 -9.30 GMT