Press briefing of Cabinet Decision taken on 2016-08-30

Development Policy Funds (Private Sector Development, Governance Improvement and Fiscal Consolidation)

- Focusing attention on the financial stability of Sri Lanka, development of public resources management and facilitating the competitiveness of private sector, the Japanese International Cooperation Agency (JICA) has agreed to provide funds for the implementation of government development measures to attain economic stability. Accordingly, the proposal made by Hon. Prime Minister Ranil Wickremasinghe, in his capacity as the Minister of National Policies and Economic Affairs, to sign the Exchange of Notes with the Government of Japan, to obtain development policy funds of Japanese Yen 10,000 million (approximately Rs.14,453.2 million) under the terms and conditions favourable to the country and to enter into a loan agreement with the JICA, was approved by the Cabinet.