Press briefing of Cabinet Decision taken on 2016-03-09

Investment in the 'Commonwealth Small States Trade Financing Facility'

- During the Commonwealth Heads of Government Meeting (CHOGM) which was held in Malta in November, 2015, the Commonwealth along with Sri Lanka, India, Mauritius and Malta had announced the setting up of a new Fund as 'Commonwealth Small States Trade Financing Facility', to promote trade and investment flows, particularly for small and developing countries of the Commonwealth. The objective of this Fund is to promote trade flows to and from the small States of the Commonwealth. Accordingly, the proposal made by Hon. Ravi Karunanayake, the Minister of Finance, to invest a sum of US$ 1.5 million, as an 'Anchor investor', in the said Fund, was approved by the Cabinet.