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Message: <blockquote data-quote="monson" data-source="post: 21470145" data-attributes="member: 30005">Japan grants over Rs. 63 billion financial assistance to Sri Lanka for three development projectsWed, Apr 12, 2017, 07:12 pm SL Time, ColomboPage News Desk, Sri Lanka.Apr 12, Tokyo: The Government of Japan has granted over 45 billion Japanese Yen (Rs. 63 billion) in financial assistance to Sri Lanka for three development projects.Following the Japan-Sri Lanka Summit Meeting on Wednesday in Tokyo, Ambassador of Japan to Sri Lanka and Ambassador of Sri Lanka to Japan Prof. Dammika Ganganath Dissanayake signed and exchanged notes concerning two yen loan projects and one grant aid project, in the presence of the Japanese Prime Minister Shinzo Abe and Sri Lankan Prime Minister Ranil Wickremesinghe.Japan has granted a 12.957 billion yen loan for the project "Rural Infrastructure Development Project in Emerging Regions" and 31.81 billion yen loan for the "Kalu Ganga Water Supply Expansion Project (I)". In addition a grant of 1 billion yen has been given for "The Economic and Social Development Programme".The Rural Infrastructure Development Project in Emerging Regions aims to improve basic infrastructure including local roads, small and medium-sized irrigation, and small-scale water supplies), directly connected to the lives and production activities of people in Sri Lanka's Northern Province, Eastern Province, North Central Province and Uva Province, where development had been delayed due to the conflict and others.The Kalu Ganga project is to construct new waterworks facilities and to reconstruct the water supply system for the Kalu Ganga river system in Kalutara District and Colombo District in the Western Province.The Economic and Social Development Programme project aims to realize safer and more efficient management in the Port of Trincomalee, which receives favorable terms as anchorage, by providing equipment relating to port facilities manufactured in Japan to the Sri Lanka Ports Authority.As the Port of Trincomalee is located in the Eastern Province, it is expected that the project will contribute to the restoration of conflict-affected areas.The two loans are at a low interest rate of 1.4% per annum (0.01% per annum for the consulting services) to be paid within 25 years including a seven-year grace period.- <a href="http://www.colombopage.com/archive_17A/Apr12_1492004545CH.php" target="_blank">http://www.colombopage.com/archive_17A/Apr12_1492004545CH.php</a></blockquote>

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