Press briefing of Cabinet Decision taken on 2017-12-05

Securing Financial Aid from the Government of Hungary for the development Projects

- The Government of Hungary has agreed to provide funds for the development of some of the projects implemented by the Government of Sri Lanka. Under this programme, concessionary loan facilities in a sum of Euro 149 million will be provided for, in respect of the following projects through the Import and Export Bank of Hungary.

1. Bingiriya - Udubaddawa Water Supply Project (Euro 53 million)
2. Construction of Flyovers - Kohuwala, Kirulapona and Yangalmodara (Euro 52 million)
3. Electronic Court Management System (Euro 32 million)
4. Railway Level Crossing Protection Project (Euro 12 million)

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 an Aid Credit Framework Programme Agreement with the Government of Hungary in respect of the said loan facility, was approved by the Cabinet.