External funding must be development centric: President

28 May 2020 09:50 pm - 2     - {{hitsCtrl.values.hits}}


President Gotabaya Rajapaksa said external funding must be “development centric” by all aspects of such facilities because the timeline to reach normalcy in the country will be longer.

President Rajapaksa said this while addressing the virtual ‘High – Level Event on Financing for Development in the Era of COVID – 19 and beyond’ organized by the Prime Ministers of Canada, Jamaica and the UN Secretary General today.

He said the profiling of official debt and medium term emergency budget support loans by each major bilateral and multilateral lenders will not only provide macroeconomic space to meet private debt obligations and relax trade and payments systems but also restore confidence among private sector creditors to re-energise growth and investments.

"I underscored the need for development financing when I spoke with His Excellency Xi Jinping, President of People’s Republic of China, India Prime Minister Hon. Narendra Modi and US National Security Advisor Mr. Robert O'Brien. It is noted that Middle Income Countries seem to get subsumed under the overarching classification of developing countries and thereby their requirements are not wholly met.

The fast actions by large bilateral, multilateral agencies without placing conditionalities among themselves and coming forward as development partners in respective developing and middle income economies is the responsibility of leading agencies and leaders of the world.

This dialogue must concentrate on how developing and middle income countries are assisted with emergency funding facility, while encouraging countries to focus on human development aspect including education, health, women and children, new export industries, food security and environment for a better and stable world. Excellencies, I conclude recalling the words of the Buddha “arogya parama labha”, meaning good health is the greatest gain," he said.

  Comments - 2

  • Developer Friday, 29 May 2020 11:55 AM

    Including human development??

    Sinna Sunday, 31 May 2020 07:11 AM

    Let me appeal the prez hear to know, why the price of rice increased which is consuming by general public,how to justify the reason to make those thuggish mudalalis happier

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment

New Parliament must comply with COVID-19 guidelines: Dr. Jasinghe

Parliament heads and Director General of Health Services Dr. Anil Jasinghe ye

Group of SJB members will join UNP after polls: Akila

A group of Samagi Jana Balawegaya (SJB) candidates will join the UNP after th

PC polls before end of this year: GL

The Provincial Council (PC) Elections which has been delayed for several year

Materials for elephant fence idle while people, cultivation are threatened by wild jumbos

Residents of the area expressed concern about abandoning a large stock of wi