| Japan grants financial aids to develop the Eastern province |
| [ Thursday, 11 March 2010, 12:28.40 PM GMT +05:30 ] |
 Reports states, the Japanese Government had granted 250 million dollars of financial aid to develop the eastern province of Sri Lanka which is affected by war. This finance is utilized to develop the eastern province highways, electricity connections and water distributions. |
Meanwhile according to government information, the Japanese government has granted 50 million American dollars as the second stage for the production of electricity from the upper Kotmale irrigation Plant. This loan would be granted on an annual interest rate of 0.2 percent for 40 years and the tax exemption will be for 10years.
Meanwhile the 549.9 million dollars loan granted for the water distribution to the eastern province, .65 percent is incurred as interest, 10 years of interest free including the settlements should be done within a period of 40 years.
Further a condition has been imposed to the 101 million loan for the road developments in the many provinces, of 1.4 interest and interest free for 10 years, and the loan settlements to be done within a period of 30 years. |
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