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Korea resumes ODA concessional loan projects in Sri Lanka

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The Export-Import Bank of Korea (Korea Eximbank) yesterday officially notified Sri Lanka’s Ministry of Finance, Economic Stabilisation and National Policies of its decision to resume EDCF Official Development Assistance (ODA) concessional loan projects in Sri Lanka.

The resumption comes after the Official Creditor Committee (OCC) and Sri Lanka finalised the Memorandum of Understanding (MOU) on 26 June 2024.

This decision includes resuming disbursements, signing loan agreements, and moving forward with the bidding process for all ongoing Economic Development Cooperation Fund (EDCF) projects in Sri Lanka.

Korea Eximbank said this resumption will facilitate the restart of disbursements for construction projects already underway, including the Ruwanwella Water Supply Project. This move marks a significant step in strengthening the longstanding ties between the Republic of Korea and Sri Lanka. It is expected to contribute towards the recovery and stabilisation of Sri Lanka’s economy while promoting sustainable growth.

The Economic Development Cooperation Fund (EDCF) is a Korean Government fund established in 1987 in order to support the industrial development and economic stabilisation of partner countries and promote economic cooperation with Korea. The Korean Government entrusts Korea Eximbank with the operation and management of EDCF. Since 1990, EDCF has authorised nearly $ 1 billion for 30 development projects in Sri Lanka.

(ft.lk)

(This story, originally published by ft.lk has not been edited by SLM staff)

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2 drownings today

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Two drowning incidents have been reported today (May 13).

In one incident, one person had drowned while 03 others were reported missing while bathing in the sea off Wennappuwa today (May 13).

Police said four persons from Nuwara Eliya were reported missing while sea bathing and that one body was later recovered.

Search operations are continuing.

Meanwhile, two girls who had gone to bathe in the Palukadawala Tank in Galgamuwa, Kurunegala, have also drowned.

The girls, aged 12 and 17 had gone bathing while they were visiting a relative in the area.

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Police assure that belongings of Kotmale accident victims are safe

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Kotmale Police have stated that luggage, mobile phones and other belongings of the passengers on the bus that met with a tragic accident at Gerandi Ella are safe with them/

Kotmale Police OIC Chief Inspector Vajira Ratnayake stated that the villagers who assisted authorities at the time of the accident handed over the passengers’ belongings to the Police.

The OIC also stated that 35 mobile phones, luggage and other valuables have been kept safe at the police station and can be obtained after the identities of the claimants are verified.

Meanwhile, it is reported that the bus conductor’s ticket book and the money he had collected could not be found.

The OIC had also stated that the exact number of passengers on the bus could not be ascertained due to the death of the driver and the fact that the conductor was receiving treatment in hospital.

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PSL 2025 to resume on May 17

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PSL 2025 will resume on May 17, with the final on May 25. The announcement confirms the league will end a week after it was originally scheduled to conclude.

The four remaining group games will take place at the Rawalpindi Cricket Ground, with the playoffs and final in Lahore. Aside from one afternoon game in Rawalpindi – between Multan Sultans and Quetta Gladiators on 18 May, all fixtures take place at night, with evening games starting at 7:30pm local time.

“HBL PSL X picks up from where it left off,” he wrote in the post,” PCB chairman Mohsin Naqvi announced on X (formerly Twitter). “6 teams, 0 fear. Get ready for 8 thrilling matches starting 17th May, leading up to the Grand Final on 25th May. Best of luck to all the teams!”

The league, which was postponed due to increasing cross-border tensions with India, has eight games left.

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