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Wednesday, March 10, 2010 - 09.00 GMT |
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China, SL sign
agreements for development projects |
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The Chinese Government through its funding arm the Exim Bank, concluded with Sri Lanka a Concessional Funding arrangement to construct the island’s second airport in Mattala at a cost of US $ 190 million while also pledging Concessional financing of US $ 100 million to augment the capacity of the Sri Lankan railway.
Two Concessional Loan agreements were signed during a three day visit by Dr P B Jayasundera, Secretary to the Ministry of Finance of Sri Lanka, a delegation from the External Resources Department and Attorney General’s Department to Beijing from 3rd – 5th March 2010.
During discussions, emphasis was laid on speeding up the evaluation process for the construction of the A9 highway.
Secretary Finance explained to the Vice President of the Exim Bank, Zhu Hong Jie, that a vital ingredient for the realization of the development plan for the country was the need to fulfil the infrastructure requirement and appreciated China for assisting Sri Lanka at a very crucial stage of her socio-economic development shouldering a major portfolio of the finical requirements.
Vice President Zhu commented that China is a sincere friend of Sri Lanka and is keen to assist Sri Lanka in her development process, a press release from the Ministry of Foreign Affairs stated.
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