Japanese funds for Lanka to flow

Nadira GUNATILLEKE

The Japanese Government has assured Sri Lanka that it will continue to supply its annual development assistance of Yen 40 billion to Sri Lanka for the next three years without interruption. The amount has been increased by Yen 9 billion when compared with the previous amount, Foreign Minister Rohitha Bogollagama said.

Addressing a press briefing in Colombo yesterday, Bogollagama said President Mahinda Rajapaksa’s recent visit to Japan further strengthened the cordial friendship and bilateral ties between Sri Lanka and Japan which has a long history.

He pointed out that Japanese Emperor Hirohitho visited Sri Lanka in 1921 and Emperor Akihitho visited Sri Lanka in 1981.

Japanese Prime Minister Yasao Fukuda served in the Japan-Sri Lanka Friendship Association for over 12 years.

Bogollagama said the agreement to implement Liquified Nitrogen Gas project (LNG) was signed between Sri Lanka and Japan and the Japan Bank for International Cooperation will grant US $ 610 million for the project.

Japan will also provide financial assistance to build a National Workers’ Hospital (a budget hospital for workers), Moragahakanda project, a modern training school for nurses, road development and Eastern Development Project.

Ceylinco Consolidated Deputy Chairman Cecile Kotelawala said confidence between the business communities of the two countries was further strengthened due to the Sri Lankan business delegations’ visit to Japan along with President Mahinda Rajapaksa.

Fruitful discussions were held in connection with increasing air traffic to US, diamond export etc, she added.

AMW Chairman Tilak de Soysa said there was a belief that Sri Lanka was not safe for business ventures but this concept changed when about 300 Japanese businessmen took part in the meeting during President Rajapaksa’s tour in Japan.

The Japanese business community was pleased about the connection between the business communities of the two countries, he added.

Explaining activities during the SAARC Council of Ministers meeting in New Delhi, Bogollagama said the SAARC Summit will take place in Colombo next year.

Arrangements will be made to set up SAARC villages in all 24 districts in Sri Lanka. A SAARC Regional Centre for Economic Affairs will be set up in Sri Lanka. Arrangements will be made to formulate common law composition in SAARC countries. The SAARC Development Fund will be strengthened and Sri Lanka will contribute US $ 34 million for this fund.

He thanked the Indian Prime Minister and Foreign Minister for their contribution to strengthening and pushing forward SAARC.