Japan promises Ranil infrastructure, maritime aid

Wednesday, 7 October 2015 00:03 - - {{hitsCtrl.values.hits}}

BUP_DFT_DFT-1_02-75

TOKYO (Reuters): Japanese Prime Minister Shinzo Abe pledged aid to Sri Lanka on Tuesday in a meeting with his counterpart Ranil Wickremesinghe and reiterated a promise to help Sri Lanka bolster its maritime security and to provide patrol ships.

Sri Lanka is moving away from the former Government’s pro-China stance and has suspended most Chinese-backed infrastructure projects.

It is also trying to put more emphasis on ties with Japan, which dovetails with Abe’s hope to counter a rising China.

Sri Lankan Government officials said in July they were seeking sources of cheaper funding to replace about 70% of the more than $5 billion in debt from Chinese lenders with loans at cheaper interest and longer durations.

Abe pledged about 45.4 billion yen ($377 million) in infrastructure aid, while Wickremesinghe said his Government would create a more favourable investment climate by ensuring transparency and good governance.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.