News

ADB provides SL access to concessional financing

Published

4 months ago

June 8, 2023

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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.

News

Cargills FoodCity assault : suspects released on bail

Published

10 mins ago

September 25, 2023

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The suspects recently remanded over assaulting a young woman at the Borella Cargills FoodCity supermarket, have been released on bail.

Colombo Additional Magistrate Sajindra Weerasuriya today (25) ordered to release the suspects on a surety of Rs. 5,000 each.

The suspects were produced before an identification parade and the complainant identifies 05 out of the 07 suspects.

Also, it was previously stated that the complainant had committed previous offences, it was singular that no such thing was mentioned in the police reports submitted to the court.

The court ordered to take up the case again on Nov. 08.

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News

Fmr. SDIG gets 5-yr. jail term

Published

3 hours ago

September 25, 2023

editor

The Ratnapura High Court has sentenced former Senior DIG Lalith Jayasinghe for five-year imprisonment for intimidating Kahawatte OIC not to arrest MP Premalal Jayasekera over a shooting incident.

Ratnapura High Court also ordered the convict to pay a fine of Rs. 20,000.

The shooting incident took place during the 2015 Presidential election campaign.

News

Notice on issuing revenue licenses in WP

Published

6 hours ago

September 25, 2023

editor

The Department of Motor Traffic has decided to temporarily suspend the issuing of revenue licenses in the Western Province due to a system update.

According to the department, the services will be unavailable from this Wednesday (September 27) to next Monday (October 02).

The Motor Traffic Department said in a statement that vehicles of which revenue licenses are expiring from Tuesday, September 26 can be renewed until October 10, without fines.

Meanwhile, the online service for revenue licenses was temporarily suspended from midnight yesterday (September 24) and will remain so until Friday, October 06.

The department added that the temporary service suspension was due to an update on the system maintained by the Information and Communication Technology Agency of Sri Lanka.