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Japan pledges US$ 600m for BIA upgrade, electricity project
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Japan’s State Minister for Foreign Affairs Minoru Kiuchi meets President Maithripala Sirisena.
Japan has promised loans worth US$ 600 million to fund the second stage of Bandaranaike International Airport (BIA) upgrade and a new project to establish Electricity transmission and distribution network.
The Japanese State Minister for Foreign Affairs, Minoru Kiuchi, discussed details of the loans during his visit yesterday, said Director of South West Asia Division, Mio Maeda. The minister met with President Maithripala Sirisena, Prime Minister Ranil Wickremesinghe and Foreign Minister Mangala Samaraweera, during his 24-hour visit, he said.
“Accordingly, Japan will lend Rs 45 billion for the BIA upgrade, and another Rs 25 billion for the Electricity project, with a loan period of 40 years, at the lowest interest rate for lending being 0.1per cent,” Mr Maeda said.
“Japan is also supportive of the local mechanism to address war crimes and would assist the Sri Lanka Government in any technical capacity possible to conduct the investigation,”he said.
The Minister said that he appreciates the new government’s effort to reconstruct the nation and supports the Government’s stand,” Mr Maeda concluded.