Min. Ravi Karunanayake elaborates on the USD Japanese bond issue to SL

Min. Ravi Karunanayake elaborates on the USD Japanese bond issue to SL

Min. Ravi Karunanayake elaborates on the USD Japanese bond issue to SL

Written by Staff Writer

01 Jun, 2016 | 6:41 am

A media briefing took place to elaborate on President Sirisena’s visit to Japan and progress achieved as he was among the world leaders who was invited for the G7 Outreach summit 2016 held in Japan.

During bilateral discussions, President Sirisena and Japanese Prime Minister Shinzo Abe had discussed and agreed to provide aid to Sri Lanka in 05 phases.

Minister of Finance, Ravi Karunanayake stated that they had shown how the 1.2 Billion US Dollar Japanese Bond Issue would help Sri Lanka therefore they asked them to invest in the Eastern Terminal in the Southern Port. Japan has agreed to support the increase of Sri Lankan Manufactured Vessels in Trincomalee. At the same time, the President requested for Japanese Technology assistance to move to engines that would not use fossil fuel.

He added that the Japanese Prime Minister was pleased to assist and called to further study the matter and inform them. 44 Billion yet had been allocated for the Development of Sri Lanka.

Explaining further he added that they request for assistance to slope the Rupee and the Yen between the Central Banks of Japan and Sri Lanka.

He went on to note that a new way of earning income has been created till the infrastructure facilities are developed as this kind of undervaluing is non existent.

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