News

ADB provides SL access to concessional financing

Published

1 year ago

June 8, 2023

editor

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

NPP finalizing nomination lists for general election

Published

1 hour ago

October 5, 2024

editor

The National People’s Power (NPP) is finalizing its district-level nomination lists for the upcoming General Election, according to NPP General Secretary Dr. Nihal Abeysinghe.

He revealed that the NPP is preparing a mechanism to avoid internal competition for preferential votes among its candidates, though it will not interfere with the electoral process, ensuring that those elected by the people through preferential votes enter Parliament.

Dr. Abeysinghe highlighted that the NPP is including more female candidates and professionals in both its nomination and national lists.

He also clarified that while many individuals have expressed interest in contesting under the NPP banner, no new political parties or groups will be aligned with the NPP for the election.

News

Defence Ministry recalls civilian firearms

Published

13 hours ago

October 4, 2024

editor

The government has announced the temporary recall of all firearms issued to civilians by the Ministry of Defence.

In an official statement, the Ministry directed all license holders to return their firearms and ammunition to the Commercial Explosives’ Storage Facility in Welisara by November 07.

The Defence Ministry further stated that the firearms will be returned after a review and assessment of the necessity to retain them.

(dailymirror.lk)

(Except for the headline, this story, originally published by dailymirror.lk has not been edited by SLM staff)

News

Bandula not to contest Gen. election

Published

16 hours ago

October 4, 2024

editor

Former Minister of Transport and Mass Media Dr. Bandula Gunawardene says he has decided not to contest at the upcoming General elections.Speaking to media, he told that he had been in politics for more than 20 years representing the Homagama electorate and that he functioned as a Deputy Minister and as a Cabinet Minister and rendered the maximum possible service to the people in his capacity.He also revealed plans to produce another movie while continuing his further education in the upcoming years.