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“It is not only in the
South that the government is opening new development projects. We are
doing so in other parts of the country too. The new port development at
Hambantota is one such project. The
The President said the Government obtained US $ 500 million which is to be used for development purposes. This was not a debt incurred for consumption. The country was still repaying the debts incurred for the bread consumed in the 1960s. We are today burdened by such debts. But today when the Government obtained loans for development the leader of the Opposition writes letters and sends special representatives all over the world to prevent such loans being obtained.
Speaking further, President Rajapaksa said that when capital is needed for development it is necessary to obtain loans. This was the same with a person who obtains a bank loan to build a house. The borrower must have the ability to settle the debt. The country has the ability to settle its debts. When the new Hambantota port becomes operational and earns revenue, the country can settle the loans obtained for its construction, which will be done in the four year grace period on the assistance obtained. Once that is over, the port will be earning to be able to settle its debts.
The development of the country cannot be stopped. Development is a promise given to the country, and the government was keeping to this promise. “I am accused of bringing the Medamulane Chinthana. This is about the development in these areas. There was a time when with a leadership confined to Kollupitiya, only the Colombo area was developed. The Government did not go to the village. It did not come to distant Ruhuna. Development was not taken to Jaffna or to Batticaloa or to the Hill Country. Today, we have taken development to the Chilaw and Puttalam districts through the Norochcholai power project,” the President said.
President Rajapaksa’s tour of inspection of the Hambantota Port Project followed yesterday’s signing at Temple Trees of the financial agreement between the Government and the Exim Bank of China for the construction of the new Port of Hambantota.
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government obtains loans for
development purposes and not for day to day consumption. The benefits of
this development will be seen throughout the country. They will generate
new employment opportunities. That is why this work needs the support of
all,” said President Mahinda Rajapaksa, addressing a public rally after
a tour inspection of the Hambantota Port Project today (31).
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