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| Tuesday, 9 March 2004 |
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Over Rs 100m Japanese aid package unutilised by Shirajiv Sirimane Over Rs. 100 million of an aid package released to Sri Lanka by the Japanese government, which came by way of a grant is yet to be utilised. The National Development Bank (NDB) is channelling most of this money. This money was channelled to Sri Lanka in 2002 and the amount released was Rs. 230 million. This loan was to be utilised for small and bushiness sector companies to upgrade their technology. The Japanese government along with this grant approved a further four billion yen to be utilised for the development of the Small and Medium sector industries. This amount was to be given on a soft loan basis and the Sri Lankan companies have responded positively and most of the money had been channelled to Sri Lanka's medium and small entrepreneurs. However of the 230 million Yen grant around Rs. 130 million has been requested and disposed of. An official of the bank said that if this money is not utilised before the end of 2005 it would go back to the Japanese government as an unused grant. The Japanese economy is one of the strongest in the world. Only the USA has a higher GNP. The Japanese economy is one of the strongest in the world. Only the USA has a higher GNP. Japan's main export goods are cars, electronic devices and computers. The most important single trade partner is the USA, which imports more than one quarter of all Japanese exports. Other major export countries are Taiwan, Hong Kong, South Korea, China and Singapore. Japan has a large surplus in its export/import balance. The most important import goods are raw materials such as oil, foodstuffs and wood. The major suppliers are the USA, China, Indonesia, South Korea, and Australia. |
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