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Lanka first recipient of funds under new scheme:

Rs.25 billion from Japan for three development projects

by Manjula Fernando

Sri Lanka will receive the first preferential loan of Rs.25 billion from Japan under a new scheme dedicated to promoting world peace. This 'highly concessionary' loan which comes with a 10 year grace period and a 40 year repayment period at an annual interest of 0.75 per cent will cover three development projects to be implemented under the government's economic development initiatives.
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