Government to obtain US$ 1 billion loan from AIIB
The government is to obtain US$1 billion from the China-led Asian Infrastructure Investment Bank (AIIB) for various projects, Finance Minister Ravi Karunayake said yesterday.
The AIIB was founded as a counter to the World Bank. During the previous regime, Sri Lanka also became a founding member of this new bank which is expected to lend US$10 billion to US$15 billion a year for the first five or six years. The new government enacted legislation in Parliament ratifying Sri Lanka’s membership in the bank, which is expected to begin operations this year.
The Finance Minister who attended the Bank’s Annual General Meeting in Beijing said the Government would obtain project loans amounting to US$1 billion from the AIIB.
(Daily Mirror – By Kelum Bandara)
Latest Headlines in Sri Lanka
- Prime Minister Harini Amarasuriya’s New Year message for 2025 January 1, 2025
- President Anura Kumara Dissanayake’s New Year message for 2025 January 1, 2025
- Two suspects remanded over incident involving NPP MPs at Bingiriya factory December 31, 2024
- Sri Lanka sets record with 312,836 migrants abroad for employment in 2024 December 31, 2024
- Supreme Court declares free marks decision unlawful in grade 5 exam controversy December 31, 2024
Is the USD 1 billion for the Megalopolis and a new set luxury vehicles to Parliamentarians?
The loan can also help paying off Bond Mahendran’s credit card in his new job.
To the amude-wearing taxpayer, this means VAT will soon be 35% !!!!!
Brilliant!
Those who voted you lot into power, after listening to your continuous ‘China Bashing’ , must be congratulating themselves.
What a carry on?