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Austrian banks grant Rs2.7bn interest free loans for university & health sectors

Austrian banks grant Rs2.7bn interest free loans for university & health sectors

Two Austrian banks have provided over 2.7 billion rupees worth interest free loans for health sector development and to improve university medical facilities, the Finance Ministry said. The Erste Bank of Austria has provided EUR 9.5 million (approximately SLR 1,810 million) interest free credit facility to enhance the…

IFC to finance Fairway Sri Lanka’s waste-to-energy firm

IFC to finance Fairway Sri Lanka’s waste-to-energy firm

Washington based International Finance Corporation said it is planning to help finance a 67 million US dollar waste-to-energy project by Sri Lanka’s Fairway Holdings group. IFC will provide a 7 million US dollar loan to the company. The mass incinerator has the capacity to 500 tonnes of municipal…

ADB gives US$453mn for Sri Lanka’s Mahaweli water security investment

ADB gives US$453mn for Sri Lanka’s Mahaweli water security investment

The Asian Development Bank (ADB) is giving Sri Lanka a loan of US$453 million to fund the second phase of a project providing irrigation and drinking water from the island’s main Mahaweli river. The funds will be used to build storage reservoirs, canals and tunnels to divert river…

Sri Lanka among 23 countries vulnerable to Chinese debt distress: Study

Sri Lanka among 23 countries vulnerable to Chinese debt distress: Study

Sri Lanka has been classified as a highly vulnerable country to debt distress of China’s Belt and Road…

Lanka IOC prepared to set own fuel prices to minimise losses

Lanka IOC prepared to set own fuel prices to minimise losses

Sri Lankan fuel retailer Lanka IOC will be forced to implement its own pricing mechanism to minimise losses…

Seabased rides Sri Lanka wave

Seabased rides Sri Lanka wave

Swedish wave energy company Seabased is working with Infocom Connect to develop renewables projects in Sri Lanka. The…

Sri Lanka – Dominica Diplomatic Relations begins

Sri Lanka – Dominica Diplomatic Relations begins

The Government of Sri Lanka and the Government of Dominica established Diplomatic Relations on last Tuesday (17th April).…

US$100 million World Bank loan to modernize Sri Lanka’s education system

US$100 million World Bank loan to modernize Sri Lanka’s education system

The World Bank will give a loan of US$100 million to modernise Sri Lanka’s education system in keeping…

China Harbour Engineering to construct 7-star Achilleion project

China Harbour Engineering to construct 7-star Achilleion project

 Sri Lankan real estate player Blue Mountain has signed an agreement with China Harbour Engineering Company Ltd. (CHEC) to…

Sri Lanka hits record US1.9bn FDI in 2017 with China, Singapore

Sri Lanka hits record US1.9bn FDI in 2017 with China, Singapore

Sri Lanka’s record 1.9 billion US dollars in foreign direct investment were driven by China, Singapore, India and…

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