Archives

The Government of the Federal Republic of Germany has pledged Euro 10,225,838 (approximately Rs. 920 million) for three Credit lines to the National Development Bank (NDB) and DFCC Bank under German-Sri Lanka Financial Cooperation.

The first credit line (DFCC-IV) of Euro 2,556,459 will be used by DFCC Bank to refinance export oriented industries which are exploring new export opportunities to enter into the Indian market and also to fund infrastructure development projects in the telecommunication and power sectors.

The second and third credit lines (NDB-V & NDB-VI) amounting to Euro 5,112,919 and Euro 2,556,460 respectively will be channelled through the NDB to supplement long term refinancing requirements for modernising industry and commerce, and refinancing investments of small and micro industries.

The Government of the Federal Republic of Germany has extended the lines of credit to support the financing of foreign exchange component of investments of Sri Lankan enterprises and thereby it is expected to strengthen their economic viability and create more employment opportunities in the country.

News | Business | Features | Editorial | Security
Politics | World | Letters | Sports | Obituaries |

Produced by Lake House
Copyright 2001 The Associated Newspapers of Ceylon Ltd.
Comments and suggestions to :Web Manager