Sri Lankan government receives US$ 1.2 billion in foreign assistance due to sound economic policies
Finance Minister of Sri Lanka Mangala Samaraweera has reportedly told Parliament yesterday that the Government of Sri Lanka had achieved stable growth and received US$ 1.2 billion in foreign assistance recently to underscore the sound economic policies followed.
He has stated that the country has entered into the correct path despite the criticism of those who cannot tolerate success.
“The reason for this achievement is the collective effort that left out personal agendas. Today, we were able to stand against a terrorist threat successfully while controlling unemployment. We have maintained the GDP at a higher level,” the Minister has stated in his statement to parliament.
Samaraweera has referred to the support received from the Asian Infrastructure Investment Bank (AIIB) and the US Agency for International Development (USAID) and has noted that Sri Lanka will continue to receive foreign assistance.
“During the past few months, we received over US$ 1,200 million in foreign aid. A few weeks before the World Bank gave us a loan of US$ 70 million for rural development program. The IMF approved $ 164 million in May, US Millennium Challenge Corporation US$ 480 million, US$ 50 million from the Asian Development Bank to support small and medium enterprises, US$ 280 million from the AIIB for Colombo City development and the landslide prevention. All these are given to us based on the economic policies but not on the personal relationships we maintain,” Samaraweera has said.
Speaking on the importance of increasing exports and production, the Finance Minister has noted that Rs. 48,000 million worth programmes are taking place under Gamperaliya programme.
“This year 98,600 programs under Gamperaliya were launched. In addition, we are to assist 800 temples with the allocation of Rs. 8,000 million. Using this money, we will help to develop religious harmony among all groups. By the end of this month, we will give an addition interim allowance of Rs. 2,500 to all State sector employees in addition to the cost of living allowance of Rs. 7,800 they receive. When we took over the salary of a peon stood at Rs. 11,730. We have increased it to Rs. 24,250. The salary of a nurse was increased from Rs. 15,620 to Rs. 32,525, and the salary of a graduate teacher from Rs. 16,100 to Rs. 33,300, and a salary of a Ministry Secretary from Rs. 47,515 to Rs.98,650,” Samaraweera has added.
OSL take:
The massive foreign funding assistance received by Sri Lanka is indicative of the endorsement of the country’s economic policies by the international community. All this indicates an active, pro-growth economy. Therefore, foreign businesses/investors could confidently explore business/investment opportunities in Sri Lanka.
| Article Code : | VBS/AT/20062019/Z_2 |