Following the completion of the signing of Memorandum of Understanding (MOU) between the Official Creditor Committee (OCC) and Sri Lanka on 23 July and the expression of the willingness by the Government of Sri Lanka to swiftly conclude a bilateral agreement on debt restructuring, the Government of Japan has officially decided to resume disbursement to Yen Loan Projects, which had been suspended since the default of Sri Lanka in 2022.
On 24 July, the Government of Sri Lanka, the Embassy of Japan and Japan International Cooperation Agency (JICA) Sri Lanka Office held a joint press conference to inaugurate this milestone decision at Ministry of Finance.
While congratulating the completion of the MOU on debt restructuring between Sri Lanka and the OCC, Ambassador MIZUKOSHI Hideaki highlighted the unprecedented initiative and outstanding contribution by the Government of Japan, as a co-chair of the OCC, in leading and concluding the public debt restructuring.
Ambassador Mizukoshi also commended Sri Lankan authorities for their ongoing efforts in implementing the comprehensive economic and social reforms essential to guide the country back to a sustainable path. He stated that all the suspended yen loan projects are crucial infrastructures that promote Sri Lanka’s economic growth and further reaffirmed Japan’s continuous and unwavering commitment to supporting Sri Lanka.
On behalf of Mr. Yamada Tetsuya, Chief Representative of JICA Sri Lanka Office, Ms. Ide Yuri, Senior Representative, handed over the official letter on this decision to Mr. Mahinda Siriwardana, Secretary to the Treasury, which is addressed to President Wickremesinghe from Dr. Tanaka Akihiko, President of JICA.
Ms. Ide Yuri expressed her hope that the resumption of Yen loan projects will contribute to stabilizing the economy and society of Sri Lanka and help gain momentum toward long-term sustainable growth, thus paving the way for Sri Lanka to recover trust and confidence from the people and private businesses of both Sri Lanka and the world.
Secretary Siriwardana expressed his profound gratitude for this decision and sincere appreciation for Japan’s excellent initiative and long-term dedication in the debt restructuring.
It is hoped that the resumption of disbursement to Yen loan projects would further strengthen the bond between Japan and Sri Lanka, as well as help this island nation bring itself back on track for further economic development, serving as a hub in the Indian Ocean.
Zhuhai Airshow kicks offThe 15th China International Aviation and Aerospace Exhibition, also known as Airshow China or the Zhuhai Airshow, opened on Tuesday in Zhuhai City of south China’s Guangdong Province.
The highly-anticipated biennial aerospace trade show will run until Sunday, and a four-hour flight demonstration, including performances of aerobatic teams and military jets, will be staged each day of the event.
On the first day, China’s J-20 and J-35A stealth fighters, along with Russia’s Su-57 stealth fighter, performed stunning aerobatics on the same aerial stage for the first time.
At the outdoor and indoor exhibition areas of the airshow, equipment of China’s army, navy and air forces are on display, including the debut of the J-15D carrier-based fighter, the debut of the HQ-19 surface-to-air missile weapon system, and the new reconnaissance and strike drone.
This year’s airshow also features the debut of lunar soil samples brought back by China’s Chang’e-6 mission from the far side of the moon in June this year and a separate exhibition zone displaying unmanned aerial vehicles and unmanned ships.
The airshow has attracted 1,022 companies from 47 countries and regions to showcase their star aviation and aerospace products, including a record number of products being debuted to the public at the event.
On the sidelines of the airshow, domestic airlines signed orders with Commercial Aircraft Corporation of China (COMAC) for a total of 130 C909 and C919 passenger planes.
Meanwhile, Air China has signed an intention agreement with COMAC to become the first customer of the C929 wide-body aircraft.
The Defence Ministry has notified former Members of Parliament, Provincial Councils and leaders of political parties and organisations, as well as officials in executive positions of the government, to surrender firearms and ammunition issued to them, by December 30, 2024.
Issuing a statement today (Nov. 12), the Ministry requested that they be handed over to the nearest police station by the deadline.
The statement also said that Police OICs have been instructed to take steps to check which individuals had received firearms, and to take the weapons into custody.