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The Investor Sentiment - Equity and investments forum for Sri Lankans

The Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSEThe Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSE

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    JICA pledges Rs14bn development loan to Sri Lanka

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    JICA pledges Rs14bn development loan to Sri Lanka Empty JICA pledges Rs14bn development loan to Sri Lanka

    Post by Backstage Thu Sep 01, 2016 10:35 am


    JICA pledges Rs14bn development loan to Sri Lanka
    Author LBO
    Posted on August 31, 2016

    Aug 31, 2016 (LBO) – The Japan International Cooperation Agency (JICA) has agreed to provide a development policy loan of 14.4 billion rupees (JPY10,000mn) for Sri Lanka’s development agenda.

    These funds will be utilized for private sector development, governance improvement and fiscal consolidation.

    The loan is provided at a concessionary interest rate of 1.4 percent per annum with a repayment period of 25 years including 7 years of grace period.

    In order to improve fiscal sustainability, the cabinet has approved setting up a debt management unit under Finance Ministry and to submit a proposal to Parliament to repeal the Strategic Development Projects Act 2008.

    To enable private sector competitiveness, the cabinet has decided to draft a new Secured Transactions Bill that will included provisions to facilitate the use of movable assets as collateral for bank loans.

      Current date/time is Tue Dec 10, 2024 4:40 pm