Press briefing of Cabinet Decision taken on 2011-10-19

Credit Agreement with HSBC (Hongkong & Shanghai Banking Corporation Limited) of UK and Loan Agreement with People?s Bank to finance the construction of 210 Steel Bridges in Sri Lanka

- Cabinet approval has already been granted in April 2011 for the construction of 210 Permanent Steel Bridges covering the entire Island. Construction of these bridges connecting the number of villages will greatly facilitate poor communities residing in remote areas to enhance their living standards. The proposal made by H.E. the President, in his capacity as the Minister of Finance and Planning, to enter into loan agreements with HSBC Bank of UK for sum of Sterling Pounds 28,220,757 and with the Peoples' Bank for a sum of Sterling Pounds 6,779,243, was approved by the Cabinet.