Sri Lanka discussing US$ 100mn in financing from OPEC Fund

Sri Lanka
By Editor_1

COLOMBO – Sri Lanka is discussing 100 million dollars in financing from the OPEC Fund for the development of irrigation and water security, a finance ministry statement said.

The funding was discussed at a meeting State Minister for Finance, Shehan Semasinghe had with Yusef Almulhem, Country Manager, Asia Pacific Public Sector Operations of the OPEC Fund, in Colombo recently.

The 100 million will go to support a project linked to Sri Lanka’s Mahaweli River which is already supported by the Asian Development Bank, with a 300 million dollar credit, the statement said.

The willingness of the OPEC Fund to provide new financing is a sign of progress made in debt restructuring, Semasinghe was quoted as saying in the statement.

-economynext.com

 

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