Japan funds Rs 3.7 b for socioeconomic development

The Japanese government provided Rs 3.7 billion grant assistance to implement four projects in fisheries, roads and health sectors. Japanese Prime Minister Shinzo Abe told President Mahinda Rajapaksa, during his visit to Japan last week that Japan will continue to assist Sri Lanka's sustainable development.

Japanese Yen 988 million will be provided for the construction of a Grab Hopper dredger to meet the frequent demand for maintaining the operational depth of fisheries harbours around the country to ensure uninterrupted access to fishing activities. The Grab Hopper dredger gifted by Japan in 1989 needs to be replaced due to frequent repairs.

Japanese Yen 940 million will be provided for purchase and installation of Variable Message Sign (VMS) systems on expressways for efficient traffic management aimed at improving traffic flow and minimizing road hazards.

Japanese Yen 200 million will be provided for procuring machinery/apparatus, as well as electric/electronic equipment manufactured by Japanese small and medium enterprises for use in the health sector.

Japanese Yen 500 million will be provided for procuring a range of medical equipment manufactured in Japan for improving Sri Lanka's curative healthcare services and providing the people with access to modern healthcare services in the country.

The signing of the exchange of notes took place between Japanese Ambassador to Sri Lanka Nobuhito Hobo and Finance and Planning Ministry Secretary Dr P B Jayasundera at the ministry yesterday. The signing of the grant agreement took place between JICA Chief Representative Harumi Ao, and Dr P B Jayasundera.