Donor pledges pour in at first Development Forum

At the end of the first day's meeting of the Sri Lankan Development Forum 2005, government sources are confident that President Chandrika Bandaranaike Kumaratunga's gamble of committing herself totally to the Joint Mechanism, even at the risk to her life, has paid off the Asian Tribune reported yesterday. Finance Minister Dr. Sarath Amunugama told the media that the donors had made commitments worth US$ 2.2 billion.

He said the President's committing herself unswervingly to the Joint Mechanism had a tremendous impact on the donors.

Deputy Finance Minister Ranjith Siyambalapitiya said: "Ninety per cent of the commitments were in the form of grants".

Finance Ministry Secretary Dr. P.B. Jayasundera said: "This is the first time Sri Lanka was receiving aid in the form of grants."

He said the Government has received US$ 300 million debt relief from donors. "Italy and China has written off the debts," Dr. Jayasundera added.

The inauguration of this Forum was held at the Earl's Regency Hotel in Kandy on Monday. Over 150 delegates representing 50 donor countries and agencies including representatives from the World Bank, Asian Development Bank and UN agencies participated.

- Asian Tribune -