Huge response for $ 500 m bond offer

Nadira Gunatilleke and Manjula Fernando

COLOMBO: There has been a tremendous response from banks to the Government’s bond offer of US $ 500 million which will be channelled for the development of the Eastern Province, Highways Minister Jeyaraj Fernandopulle said yesterday.

Several foreign banks including HSBC have indicated a positive response to this, he told the weekly briefing at the Government Information Department.

He said the LTTE was also campaigning at international level not to grant the US $ 500 million to the Government.

Media Minister Lakshman Yapa Abeywardena said it has come to light that, the UNP has informed a foreign bank that if it comes into power, this money will not be paid back. “This proves that a part of the UNP conspiracy is creating economic problems in the country and toppling the Government and they are now working according to this agenda,” he said

Abeywardena questioned weather the Opposition’s main task is preventing the development of the country and its people.

He questioned whether this was the way an Opposition should work within a democratic system.

The Government rescued the Tamil community from the LTTE and cleared the Eastern Province to develop the province, he said.

The Government also expects foreign aid for this task, the Minister said. The Government has taken this action according to the people’s mandate received for six years, he said.