Press briefing of Cabinet Decision taken on 2013-01-10

Loan from the Exim Bank of China under Chinese Government Concessional Loan Facility to finance Hambantota Port Development Project - Phase I for Ancillary Works and Supply of Equipment

- the proposal made by H.E. the President, in his capacity as the Minister of Finance and Planning, to enter into a Framework Agreement with the Government of Peoples' Republic of China to obtain a loan of RMB Yuan 960 million to finance the additional cost of Phase I of the Hambantota Port Development Project, was approved by the Cabinet. The proposed project envisages economic and social benefits and will generate direct income and indirect employment opportunities in the area.