• #163, Kirulapone Avenue, Colombo 05, Sri Lanka
  • +94 112 51 5759

sintami

USD 318 million Credit Line from the Government of India for the Development of Sri Lanka Railway Sector

FM news 2017 6 6An agreement to provide Indian assistance of 318 million US Dollar credit line for the development of the railway sector was signed at the Ministry of Finance today in Colombo



The Prime Minister of India Mr. Narendra Modi, at his first visit to Sri Lanka in March 2015 had declared a fresh Line of Credit (LOC) of USD 318 million for the development of railway sector in Sri Lanka. Government of India has already provided four Lines of Credit for the development of railway sector in Sri Lanka through its EXIM bank amounting to approximately USD 966 million. These credit facilities have been utilized to improve the Southern and Northern railway lines and for the procurement of rolling stocks for the Sri Lanka Railways. 


The signing of Agreement pertaining to the above loan took place today, at the Ministry of Finance and Mass Media. Loan Agreement was signed by Dr. R H S. Samaratunga, Secretary, Ministry of Finance and Mass media and Mr. David Rasquinha, Managing Director of the Export- Import Bank of India at the presence of Mr. Nihal Somaweera, Secretary to the Ministry of Transport & Civil Aviation, Mr. Arindam Bagchi, Deputy High Commissioner of India, Mr. Priyantha Rathnayake, Director General, Department of External Resources and distinguish officials of both governments. The Sri Lanka Railways under the supervision of Ministry of Transport and Civil Aviation will implement the projects.


The Ministry of Transport and Civil Aviation has identified that the improving passenger transportation facilities is an urgent requirement to attract more passengers towards railway transportation which is efficient and cost effective. Further, reducing congestions in railways by improving rail tracks and signaling systems is also a key requirement to promote passenger and freight transportation. 


The Government of India is the major development partner of Sri Lanka in South Asian region over 40 years since 1973. During the last few years Indian foreign direct investment in           Sri Lanka has expanded exponentially. Presently Indian development assistance mainly focusing on improvement of economic infrastructural facilities, livelihood development, education, healthcare, capacity building and economic renewal of Sri Lanka.

LATEST POSTS

ප්‍රවෘත්ති නිවේදනය - 2019.07.21

Monday, 22 July 2019 09:56

සත්විරු අභිමන් ජුලි 22 වැනිදා ජනපති ප්‍රධානත්වයෙන් ....

Press Release 2019.07.18

Thursday, 18 July 2019 15:13
Press Release 2019.07.18

මාධ්‍ය නිවේදන 01- 31.05.2019

Friday, 31 May 2019 16:10

විදෙස් ගමන් බලපත් සංශෝධනය

මාධ්‍ය නිවේදන 01- 13.05.2019

Monday, 13 May 2019 15:11

වැඩ බලන ආරක්ෂක අමාත්‍ය

මාධ්‍ය නිවේදනය - 2019.05.11

Saturday, 11 May 2019 19:44
මාධ්‍ය නිවේදනය  - 2019.05.11

රජය හෝ ප්‍ර‍වෘත්ති දෙපාර්තමේන්තුව කිසිදු ආකාරයක මාධ්‍ය වාරණයක් සිදු කර...

මාධ්‍ය නිවේදන 01- 07.05.2019

Tuesday, 07 May 2019 12:08

අම්පාර දිස්ත්‍රික් - රට වෙනුවෙන් එකට සිටිමු වැඩසටහන සාර්ථකව ක්‍රියාත්මකයි

මාධ්‍ය නිවේදන 05- 06.05.2019

Monday, 06 May 2019 14:55

රට වෙනුවෙන් එකට සිටිමු අම්පාර දිස්ත්‍රික් වැඩසටහන්

මාධ්‍ය නිවේදන 04- 06.05.2019

Monday, 06 May 2019 11:50

ෂරියා විශ්වවිද්‍යාලය පිළිබඳව විශ්ව විද්‍යාල කොමිසන් සභාවේ අවධානය

ஊடக அறிக்கை 03- 06.05.2019

Monday, 06 May 2019 11:17

ஊடக அறிக்கை 03- 06.05.2019

Press Release 03- 06.05.2019

Monday, 06 May 2019 11:13

Stand together for the Country

The department assists media in a macro level in welfare, training, policy planning and accreditation, and providing easy access to Government news and information.