Press briefing of Cabinet Decision taken on 2016-02-03

The Framework Arrangement between the Government of the Republic of Korea and the Government of the Democratic Socialist Republic of Sri Lanka, concerning loans from the Economic Development Cooperation Fund of the EXIM Bank of Korea from 2016-2018

- In order to further strengthen the friendship and the economic cooperation between the two countries, the Government of Korea has agreed to grant an aggregate commitment amount in Korean Won not exceeding the equivalent of US$ 300 million to Sri Lanka, from 2016 to 2018, through the Economic Development Cooperation Fund (EDCF) of the Export Import (EXIM) Bank of Korea, to finance the mutually agreed projects by the two Governments. Accordingly, the proposal made by Hon. Ranil Wickremasinghe, the Prime Minister, in his capacity as the Minister of National Policies and Economic Affairs, to enter into a Framework Arrangement with the Government of Korea, to obtain the said loan amount, was approved by the Cabinet.