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ADB provides SL access to concessional financing

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The Asian Development Bank (ADB) on Wednesday said it has approved Sri Lanka’s eligibility to access concessional financing.

The availability of concessional assistance, offered at low interest rates, broadens Sri Lanka’s options to bridge its urgent development financing needs to restore economic stability and deliver essential services, particularly to the poor and vulnerable, the Philippines‎-based regional development bank said in a press release.

Eligibility for concessional resources among the ADB’s developing member countries is based on gross national income per capita and creditworthiness.

ADB explained that its decision was considered based on a request from the Sri Lanka government in view of the severe and unprecedented economic crisis that has reversed hard-won development gains.

“ADB is committed to further enhancing its support for the people of Sri Lanka as the country responds to this deep crisis that has severely undermined their livelihoods and well-being,” said ADB Director General for South Asia, Kenichi Yokoyama. “The availability of concessional assistance will help Sri Lanka to lay the foundation for economic recovery and sustained, inclusive growth.”

Thus, Sri Lanka is now eligible for ADB support including concessional and market-based financing, technical assistance, policy advice, and knowledge solutions that together comprise a comprehensive suite of options to address the crisis.

The ADB notes that access to concessional financing will also ease debt servicing pressures through more favourable lending terms.

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Israel agrees to ceasefire proposal

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The Israeli government has said it agreed to the ceasefire proposal after “achieving the objectives” of its attacks on Iran.
According to the statement, Israel has removed Iran’s “dual immediate existential threat” from nuclear weapons and ballistic missiles.

It also says Israel has “inflicted severe damage on the military leadership, and destroyed dozens of central Iranian government targets”.

The statement goes on to say that Israeli forces, in the last day, have “severely struck government targets in the heart of Tehran, eliminating hundreds of Basij operatives” – a militia the Iranian government often uses to suppress protests – and “eliminating another senior nuclear scientist”.

“Israel thanks President Trump and the United States for their support in defence and their participation in eliminating the Iranian nuclear threat,” the statement adds.

Earlier, Iran state TV news channel IRINN says a ceasefire has been “imposed” on Israel following the “successful” Iranian attack on the US base in Qatar.

State TV said in a statement that Trump “begged” for a ceasefire following Iran’s attack. The statement was read aloud by the presenter.

The statement also hailed Iran’s Islamic Revolutionary Guard Corps (IRGC) and the Army and praised the “resistance” of Iranians.

The statement also called Iran’s attack on the US base in Qatar as the Islamic Revolutionary Guard Corps’ “successful” response to the US attacking three Iranian nuclear sites, while Qatar said all missiles were intercepted.

(Excerpts : BBC News)

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3 including Consultant neurosurgeon, further remanded

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The Colombo Magistrate’s Court today (June 24) rejected the bail applications of 03 suspects, including Dr. Maheshi Wijeratne – a consultant neurosurgeon attached to the Sri Jayewardenepura General Hospital, who were who were arrested by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC).

Accordingly, Colombo Chief Magistrate – Thanuja Lakmali ordered that the suspects be further remanded until July 08.

The three suspects were arrested on June 17 in connection with the alleged sale of medicines at higher prices through a third party.

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Colombo Central Bus Stand to be upgraded

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In line with the “Clean Sri Lanka” programme, the government plans to upgrade the Colombo Central Bus Stand within the next year.

In line with the same initiative, 50 major bus stands nationwide are scheduled for renovation, with assistance from the Sri Lanka Air Force.  

The renovation of the Colombo Central Bus Stand will include the refurbishment of key facilities such as the canteen, rest area, ticket counters, administrative unit, operations room and driver quarters.

Established in 1964, the Colombo Central Bus Stand spans 1.42 hectares and currently handles between 1,500 to 2,000 buses daily.

These details were revealed during a discussion held yesterday (June 23) at the Presidential Secretariat on the “Clean Sri Lanka” programme.

The meeting was attended by Minister of Transport, Highways, Ports and Civil Aviation Bimal Rathnayake, Secretary to the President Dr. Nandika Sanath Kumanayake, Air Vice Marshal (Retired) Sampath Thuyacontha, Secretary of Defence, Senior Officers of the Sri Lanka Air Force and other government officials.

(President’s Media Division)

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