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Repay development loans with project-generated funds: Mahinda Rajapaksa

10 Mar 2021

Prime Minister and Minister of Finance Mahinda Rajapaksa brought forward the possibility of officials repaying the loans obtained for development from the funds generated by the relevant projects, The Morning Business learns.  Highlighting the imperative of repaying foreign loans obtained for various development projects, the Prime Minister pointed out that this could be achieved using the funds generated by the relevant projects. “It is essential to select the most effective projects for the use of such loans, as well as the ability to obtain loans,” the Minister of Finance suggested. Prime Minister Rajapaksa highlighted this matter while participating in the progress review meeting of the External Resources Department under the Ministry of Finance, held at the Ministry of Finance on Monday (8) morning. Furthermore, projects to be implemented in the future under the foreign loan schemes were discussed at length during the meeting, as well as the Ocean University Expansion Project. The Prime Minister further added that development projects should be implemented with the aim of developing isolated areas and increasing commercial activities in these areas. Minister of State Ajith Nivard Cabraal, Secretary to the Treasury S.R. Attygalle, External Resources Department Director General Ajith Abeysekera, Chief of Staff to the Prime Minister Yoshitha Rajapaksa, and Co-ordinating Secretaries to the Minister of Finance Gemunu Karunaratne and Charith Wijesinghe were also present at the meeting.  


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