Rs.46 billion loan from Japan to Sri Lanka
Japan International Cooperation Agency (JICA) has taken steps to grant Sri Lanka a loan of Rs.46, 622 million or approximately Yen 33,137million, to enable the government to maintain its financial stability, continue its development agenda within the next five years and achieve its development goals. Yen 10, 000 million out of the total loan have been granted as development policy loans.
Under this tranche, the background will be set up to improve the management in the public sector and the competitiveness of the private sector to build financial stability to implement the development agenda.
In addition, Rs.32, 169 million or approximately Yen 23,137 million will be made available to implement the second phase of the Anuradhapura North Water Supply Project. This project will be implemented to prevent the current fast spreading kidney disease in the North Central Province. The project will cover the divisional secretariats of Padaviya, Kebithigollewa, Horowpothana and Kahatagasdigiliya.
The exchange of documents with regard to this loan was taken place and, the agreement with regard to the Development Policy Loan Project was signed on October 10 at the Ministry of Finance.
Japanese Ambassador to Sri Lanka Kenichi Suguma signed the agreement on behalf of the Government of Japan while Deputy Secretary of the Treasury Mrs.G.D.C. Ekanayake singed it for the Government of Sri Lanka.
Vice Chairman of JICA Hidetoshi Irigaki, Special Advisor to the Japanese Prime Minister Hiroto Izumi, National Policy and Economic Affairs State Minister Niroshan Perera and Director General of Foreign Resources Department Priyantha Rathnayake were present at the event.
(Government News Portal)
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Here we go again.
Now we can bye more Mercedes, BMW, Honda etc.
Don’t worry about the hospitals, Roads and Transport.
How we going to pay this back? One way is to export our graduates as slaves to these countries to clean toilets and sweep roads.
Part of this money is destined to “improve the management in the public sector and the competitiveness of the private sector”.
Well, this means increasing efficiency in the public and private sectors.
The public sector in Sri Lanka is heavily overloaded with political appointees who are glorified ‘peons’ drawing massive salaries and luxury car permits.
Some jobs which can be done satisfactorily by a young graduate are being undertaken by 20 officers. Hope the consultants from Japan identify inefficiencies in the public service and downsize to economically viable levels.
The private sector is dependent on political connections and bribes for obtaining jobs from the Government. They do not rely on innovation, creativity and competitiveness for survival.
Some of the Japanese money should go towards the appointment of an impartial Bribery Commissioner ( who is not a relative of the PM) to ensure fairness and transparency.
Yamimi Chandini Di Vimala. Please don’t talk about the our stupid cram the book and pass the exam brainless graduates.
Make sure Arjuna Mahendram is not around when this money arrives.
LKR 46 billion !!!!!!!
Many in Yahapalanaya will be wringing their hands in glee.
Luxury Land Cruisers and double travel allowances to MP’s and Provincial Council Members.
Don’t forget the poor Government Servants; should increase their tax free allowances to import Land Cruisers and sell to Thambiya Mudadalai’s.
Won’t that pay for the Yahapalana Vote for new Federal Constitution ???