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Friday, August 14, 2009 - 9.14 GMT |
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China funds
more development in SL |
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The Exim
Bank of
China is
to
provide
more
than US$
350
million
for two
major
development
projects
in Sri
Lanka.
The two
projects
are the
Colombo
–
Katunayake
Expressway
and the
Hambantota
Bunkering
facility.
The
Hambantota
Bunkering
facility
is a
major
component
of the
Hambantota
Port
Development
Project,
which is
also
largely
being
funded
with
Chinese
assistance.
Upon
completion,
the
Colombo
–
Katunayake
Expressway
will
establish
a modern
and
efficient
transport
link
between
the
Airport
to the
city of
Colombo,
reducing
the
traffic
congestions
and the
travel
time.
Agreements
on
assistance
from the
Exim
Bank of
China
for
these
projects
were
signed,
in China
August
06,
between
the Vice
President
of the
Exim
Bank Mr.
Zhu
Xinqiang
and
Secretary
to the
Treasury
Sumith
Abeysinghe.
The
signing
of the
two
agreements
will
pave the
way for
much
needed
infrastructure
requirements
which
will
have an
immense
impact
on the
country’s
future
socio-economic
development.
Congratulating
Sri
Lanka
for the
recent
victory
in
defeating
terrorism,
the Vice
President
of the
Exim
Bank
Mr.Zhu
Xinqiang
recalled
the
strong
bilateral
relations
existing
between
the two
countries
and
expressed
that
overall
relations
between
the two
countries
have
been
further
strengthened
and
consolidated
with
closer
development
co-operation.
Recalling
the
improving
trade &
investment
ties, he
indicated
that
China
would be
pleased
to
assist
Sri
Lanka in
her
future
development
efforts.
The
Secretary
to the
Treasury,
Sumith
Abeysinghe
also
made use
of this
visit to
meet
with the
Senior
Officials
of the
Ministry
of
Commerce
of China
and the
Exim
Bank and
had
extensive
discussions
on
future
development
assistance.
The
Chinese
authorities
while
expressing
satisfaction
of Sri
Lanka’s
economic
and
political
stability
and
placed
confidence
in the
current
economic
development
programme
of the
Government
in
alleviating
poverty
and
raising
the
living
standards
of the
people.
They
also
expressed
their
keenness
to help
the
Government
efforts
with an
enhanced
package
of
development
assistance.
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