Japan to provide $340mn in loans to Sri Lanka

The Japanese government will provide Sri Lanka with loans worth over $340mn, for the construction of transmission lines and water supply facilities, according to a statement released by Japan.

"Prime Minister Abe expressed his intention to provide ODA loans, which amount to approximately 38 billion yen, for the construction of transmission lines in the North Central and Eastern Provinces and water supply facilities in the North Central Province, in order to further promote socio-economic development of Sri Lanka. The project of constructing transmission lines will allow the electricity generated at the power plants that Sri Lanka planned in the Eastern Province to be transmitted to the City of Colombo," the statement said.

The prime minister told President Sirisena, who is currently in Japan, that Sri Lanka will also receive two patrol boats, a part of their maritime security cooperation.

"The two maritime states reconfirmed the importance of maintaining the freedom of the high seas and maritime order based on the rule of law. As a part of strengthening maritime cooperation between the two countries, both leaders also acknowledged the importance of the steady progress of the Project for Maritime Safety Capability Improvement (worth approximately 1.8 billion yen), that includes the provision of two patrol vessels," the statement further said.

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