First payment on ETI sale this week

The first payment on the sale of ETI Finance Ltd. is expected this week from the identified foreign fund. 

Under the oversight of the Central Bank, the restructuring and sale of ETI assets is underway, and EAP sources said that the initial installment of the $75 million deal is expected later this week. The inflow of foreign investments into the deal augurs well at a time when the country is seeking higher foreign participation in the economy, and the impending deal will benefit depositors of ETI as well as Swarnamahal Financial Services PLC.