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Message: <blockquote data-quote="lkdood" data-source="post: 12573400" data-attributes="member: 92282">South Korea will provide Sri Lanka with US$200 million in development  loans that can be used for future infrastructure building by the South  Asian country, the finance ministry said Tuesday.     Under the  memorandum of understanding, the money to come from South Korea's  Economic Development Cooperation Fund (EDCF) will be used in various  agricultural and public work projects as well as education and  health-related programs, it said.     "The agreement is  important because it raises transparency on the amount of money that  will be offered, making it easier for Colombo to set up its national  development plans," the ministry said.     The EDCF can make it  possible for local companies to take part in the ongoing 10-year  national infrastructure building plan that runs through 2016, it said.      The loans can also strengthen bilateral economic ties with the  country that buys South Korean cars, knitted goods and synthetic rubber.  Two-way trade between the two countries reached $426 million last year,  with South Korea posting a $262 million surplus.     In the  past, Seoul provided development loans to 22 projects worth $460  million, making Sri Lanka the fourth-largest beneficiary of official  overseas assistance.Yonhap</blockquote>

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