Government loans explained at cabinet media briefing

Government loans explained at cabinet media briefing

Government loans explained at cabinet media briefing

Written by Staff Writer

04 May, 2016 | 11:07 pm

An explanation on government loans was made at the Cabinet Media Briefing which held on Wednesday May 4, 2016.

State Minister of Finance Lakshman Yapa Abeywardane noted that the International Monetary Fund reached a Staff Level Agreement with Sri Lanka adding that the Staff Level Agreement with Sri Lanka was for $1.5 Billion. He stated:

And similarly we will receive $650 million through bi-lateral and tri-lateral agreements.The state minister also said that after June we will receive the aid and loans from the World Bank and then from the Asian Development Bank.

He went on to state:

” When the president heads to Japan we will receive more loans and aid. We will also receive a loan from Korea. With all this taking place, the businessmen in the country can have faith as the shares in the stock market will make gains …”

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