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Japan,Sri Lanka : Japan provides a loan of 66 billion to Sri Lanka
Publish Date : 29-Mar-2012
Japan has provided a loan of 42 billion Yen (about 66 billion rupees) to Sri Lanka and a major part of it is meant to expand the island\'s only international airport.
The Japanese embassy said : \"The loans under this scheme are offered on highly concessionary terms and conditions and are administered by Japan’s International Cooperation Agency.\"
Around 45 billion rupees will be assigned for the second stage of the Bandaranaike International Airport Development Project to enhance and upgrade its facilities and construct a second passenger terminal there.
The work has been planned to cope with the increase in air traffic and transforming the airport as a main commercial and business center in the region.
Japan will also provide a loan of 3,935 million Yen (about six billion rupees) to the island for enhancing its health-care facilities
This includes fortifying the drug production capacity of the State Pharmaceutical Manufacturing Corporation to put an end to drug shortages in state hospitals, upgrading rural hospitals, and giving 125 ambulances to rural hospitals.
Another loan of 9,573 million Yen (about 15 billion rupees) will also be provided to construct a power transmission line from north-central Habarana to Veyangoda to improve the stability and reliability of the transmission system.
