Press briefing of Cabinet Decision taken on 2017-05-02

Rehabilitation of Kankesanthurai Harbour

- It has been considered that the rehabilitation of the Kankesanthurai Harbour is essential for the promotion of the trade activities in the Northern Peninsula. The Kankesanthurai Harbour is the nearest port for all Eastern Ports of India as well as the countries of Myanmar and Bangladesh. The Indian Export and Import Bank has expressed its willingness to grant a loan of a sum of US$ 45.27 million for the rehabilitation of the harbour and the Sri Lanka Ports Authority will handle the activities of the project. Accordingly, the proposal made by Hon. Ranil Wickramasinghe, the Prime Minister, in his capacity as the Minister of National Policies and Economic Affairs, to initiate negotiations with the Export and Import Bank of India with regard to the relevant loan conditions and enter into agreements with the bank, was approved by the Cabinet.