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85% of loans spent for North-Basil

14 May 2013 03:04 pm - 28     - {{hitsCtrl.values.hits}}

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Economic Development Minister Basil Rajapaksa said that 85 percent of foreign loans to the country were spent on developing the North and resettling people displaced by the war.

Minister Rajapaksa was addressing the crowd which attended the opening of the first stage of the 106 km Medawachchiya-Talaimannar railway line at the Madhu Road railway station.

With the completion of the first stage of 43 km of railway track trains can now reach Madhu from Medawachchiya. Reconstruction of the line began on March 27, 2011 after LTTE terrorism caused the train service to stop in 1991.

The second stage of 63 km will be completed within the next four months and is scheduled to be opened on September 23. (The British colonial government introduced railways to Sri Lanka in 1867).

Following the reconstruction of the line up to Madhu, the first train left Anuradhapura at 9.48 a.m. today and reached the Madhu Road station at 10.48 a.m. via Medawachchiya, passing the Periyakulam and Wedtikulam stations.
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  Comments - 28

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  • Nadi Karunaratne Wednesday, 15 May 2013 06:04 AM

    I doubt that - what about loans for Colombo Port, Hambantota Port, Norococholai, Mattala airport, the loans to keep Mihin, Sri Lankan and CEB going. The loans we need to pay the salaries of our police, soldiers, nurses and teachers. Talking without making reference to reality.

    Anura Gunawardane Tuesday, 14 May 2013 04:21 PM

    8.5% + 1.5%

    Van der Merwe Tuesday, 14 May 2013 04:27 PM

    I didnt know that Hambantota is in the north.
    By the way one cannot expect something wise from this fellow.

    meranchi Tuesday, 14 May 2013 04:27 PM

    eighty person loan drop in to their pocket.....i

    Liqa Madique Tuesday, 14 May 2013 04:24 PM

    very true...only 15 percent of foreign borrowing is used for the rest of the country....I respect the fact that this govt is always truthful.....others should follow this example

    GP Wednesday, 15 May 2013 06:15 AM

    90% of which spent for defence sources

    crazy man Wednesday, 15 May 2013 02:36 AM

    OUT OF THAT HOW MUCH IS TO YOUR POCKET ?

    Vaz Wednesday, 15 May 2013 06:12 AM

    I thought 90% of the loans spent on world largest cabinet

    parththu Wednesday, 15 May 2013 06:34 AM

    False story. including Hmtota Harbour ,Matala Airport & Highways. Are there in north? Don't missuse to people

    dIREsTRAITS Wednesday, 15 May 2013 06:38 AM

    spent for NORTH..ing

    PRASANNAJIT Wednesday, 15 May 2013 03:20 AM

    Disclose the total amount of foreign loan taken, then we will calculate the 85%.

    Feisal Wednesday, 15 May 2013 10:12 AM

    North? Switzerland?

    Chaminda Tilakumara Wednesday, 15 May 2013 12:26 PM

    How much of it was taken in back handers? Were the contracts only given to chums?

    Fayad Wednesday, 15 May 2013 06:59 AM

    Why people do not like the south & the rest of the country being developed ??

    Be fair...... Wednesday, 15 May 2013 10:22 AM

    This is true.......85% No(rth)where, balance to the pocket.

    raviraj Wednesday, 15 May 2013 03:58 AM

    most of the beautification projects going on in Colombo are funded by WB

    Atul Wednesday, 15 May 2013 04:18 AM

    See how it calculate, very simple :
    ex. : Loan : 12 billion
    Spent for North(85%) : 10.2 billion
    Commission (10%) : 1.02 billion

    Don Udawatte Wednesday, 15 May 2013 04:40 AM

    Its the other way, 15% spent on development & 85% in his pocket !

    sanjeewa99 Wednesday, 15 May 2013 04:52 AM

    no ?

    IVJ Tuesday, 14 May 2013 03:18 PM

    What happened to the balance 15%?

    Francis Tuesday, 14 May 2013 03:19 PM

    Minus 10 per cent

    Fayad Wednesday, 15 May 2013 05:12 AM

    Why only north what about the rest of the country ??

    china Tuesday, 14 May 2013 03:38 PM

    loanly north

    Manoganesh Tuesday, 14 May 2013 03:43 PM

    What happend to the remaining 15%?

    mohamed asfar Wednesday, 15 May 2013 05:39 AM

    hon sir, please spend some money to rural areas where no roads, water or electricity.

    Silva de Mervin Wednesday, 15 May 2013 05:40 AM

    OK, I got it. Mr 10% has become Mr 15% now.

    mota Wednesday, 15 May 2013 02:40 PM

    It's in my pocket. earlier it was only 10%. but now with the rising inflation, i made it 15%.

    Yuri Wednesday, 15 May 2013 05:54 AM

    He is only talking 10%


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