India commits $109 mn aid to Sri Lanka
India has committed $109.2 mn aid to Sri Lanka during the first five months of 2008.
By PTI |
COLOMBO: India has committed 109.2 million dollars aid to Sri Lanka during the first five months of 2008, with Iran being the largest donor at 450 million dollars during the period under review.
The government has committed 109 million dollars, of which 100 million dollars are to finance imports from India.
As much as 8.5 million dollars have been pledged by India for the construction of a 150-bed district hospital at Dickoya in Central Sri Lanka.
The balance 0.5 million dollars are earmarked for the improvement of facilities at Rural Vocational Training Centre at Nagawillu, the Sri Lankan Finance Ministry said.
In all, during the first five months of 2008, the war-torn island has received commitments of 1.05 billion dollars in foreign aid from various countries and funding agencies.
But for the high aid commitments from Iran, the foreign assistance to Sri Lanka could have shown a rapid decline.
Iran will fund 450 million dollars to build a hydro-power project and upgrade the sole oil refinery of Sri Lanka.
The Uma Oya Multipurpose Development Project (UOMDP), to be funded by Iran, will provide 100-150 MW of hydro power and irrigate around 4,000-5,000 hectares of dry land near central Sri Lanka.
In the past, Japan and the Manila-based ADB were among the largest lenders to Sri Lanka.
The government has committed 109 million dollars, of which 100 million dollars are to finance imports from India.
As much as 8.5 million dollars have been pledged by India for the construction of a 150-bed district hospital at Dickoya in Central Sri Lanka.
The balance 0.5 million dollars are earmarked for the improvement of facilities at Rural Vocational Training Centre at Nagawillu, the Sri Lankan Finance Ministry said.
In all, during the first five months of 2008, the war-torn island has received commitments of 1.05 billion dollars in foreign aid from various countries and funding agencies.
ADVERTISEMENT
Of this, project loans accounted for 959 million and grants 90 million, the ministry said in its mid-year fiscal report. But for the high aid commitments from Iran, the foreign assistance to Sri Lanka could have shown a rapid decline.
Iran will fund 450 million dollars to build a hydro-power project and upgrade the sole oil refinery of Sri Lanka.
The Uma Oya Multipurpose Development Project (UOMDP), to be funded by Iran, will provide 100-150 MW of hydro power and irrigate around 4,000-5,000 hectares of dry land near central Sri Lanka.
ADVERTISEMENT
Other key donors included Denmark (USD 155.2 million), the Asian Development Bank (USD 90 million), World Bank (USD 43.1 million) and Japan (USD 42.2 million). In the past, Japan and the Manila-based ADB were among the largest lenders to Sri Lanka.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
