Govt. to secure financial aid from Hungary for development projects

Saturday, 9 December 2017 00:21 - - {{hitsCtrl.values.hits}}

The Government of Hungary has agreed to provide funds for the development of some of the projects implemented by the Government of Sri Lanka, a statement on Cabinet decisions said.

Under this program, concessionary loan facilities in a sum of Euro 149 million will be provided through the Export and Import (EXIM) Bank of Hungary for several development projects.

Out of the funds, €53 million will be allocated for Bingiriya - Udubaddawa Water Supply Project and €52 million for construction of flyovers at Kohuwala, Kirulapona and Yangalmodara.

€32 million will be spent for an Electronic Court Management System and €12 million for a Railway Level Crossing Protection Project.

The proposal made by Prime Minister Ranil Wickremesinghe in his capacity as Minister of National Policies and Economic Affairs, to enter into an Aid Credit Framework Program Agreement with the Government of Hungary in respect of the loan facility, was approved by the Cabinet.

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.