News

President expresses regret over suspension of LRT project

Published

2 weeks ago

May 26, 2023

editor

President Ranil Wickremesinghe expressed his regret to the Japanese Government for the suspension of the Colombo Light Rail Transit (LRT) project, which was being implemented with Japanese support.
During the official meeting in Tokyo yesterday morning (25) between President Ranil Wickremesinghe and Japanese Prime Minister Fumio Kishida, the President emphasized the need for future legislation in the Parliament to ensure that bilateral large-scale projects cannot be halted or canceled without the agreement of both parties.

The Prime Minister of Japan warmly received President Ranil Wickremesinghe, and bilateral talks commenced after a friendly conversation between the two leaders.

President Ranil Wickremesinghe expressed his gratitude to Japan for its support in helping Sri Lanka recover from its economic crisis, thanking the Japanese Prime Minister for his assistance.
The leaders also discussed new opportunities to enhance cooperation between Japan and Sri Lanka.

In another meeting held on the same day (25) in Tokyo, President Ranil Wickremesinghe met with Japanese Finance Minister Shunichi Suzuki to discuss Sri Lanka’s debt restructuring and the International Monetary Fund’s program. Subsequently, President Ranil Wickremesinghe met with Japanese Foreign Minister Mr. Yoshimasa Hayashi, focusing on strengthening long-term bilateral relations between Sri Lanka and Japan, including increased cooperation in economic and cultural fields.

Additionally, President Ranil Wickremesinghe and former Prime Minister of Japan Mr. Yasuo Fukuda participated in a breakfast meeting organized by the Japan-Sri Lanka Association in Tokyo on the same day (25).

During the meeting, President Ranil Wickremesinghe briefed the former Prime Minister of Japan on the ongoing economic recovery program in Sri Lanka. The President highlighted the favorable investment climate in Sri Lanka and extended an invitation to Japanese investors to return and invest in the country.

Furthermore, a meeting was held between the former Prime Minister of Japan, Mr. Taro Aso, and President Ranil Wickremesinghe, focusing on potential steps to strengthen the existing close and friendly relationship with Sri Lanka.

President Ranil Wickremesinghe also engaged in bilateral talks with Singapore’s Deputy Prime Minister Lawrence Wong in Tokyo on the same day (25). The President reaffirmed Sri Lanka’s commitment to implementing the Singapore Free Trade Agreement during discussions with the Deputy Prime Minister of Singapore.

(President’s Media Division)

News

Bus collides head-on with lorry injuring 22

Published

59 mins ago

June 9, 2023

editor

A bus belonging to SLTB collided head-on with a lorry at Embulgama in Hanwella on the Colombo-Avissawella Road early this morning (9).

The drivers of both vehicles and 20 bus passengers were injured in the accident and hospitalized.

The accident occurred when the lorry travelling from Colombo towards Avissawella collided head-on with the bus travelling from Akkaraipattu to Colombo.

News

Chinese National protest deportation at BIA!

Published

1 hour ago

June 9, 2023

editor

The Chinese man, who was arrested for entering Sri Lanka with a fake passport, has behaved aggressively saying that he cannot return to China when he was brought to the Bandaranaike International Airport (BIA) to be deported, airport sources said.

He was brought to the airport yesterday (08) around 5 pm under strict security of two STF officials, a police inspector from the Police Narcotics Bureau and an officer from the Immigration Department.

Sources said that when he was brought to the final gate to board the plane, he began to behave violently saying that he could not return to China.

A senior official at the airport said that the security personnel had to use force to get the Chinese national to board the SriLankan Airlines flight UL884 and took him to China with great effort.

The three police officers and the immigration officer also went to China along with the suspect.

News

ADB provides SL access to concessional financing

Published

12 hours 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.