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Billions of dollars as loans - Basil

15 July 2011 05:35 am - 8     - {{hitsCtrl.values.hits}}

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Minister of Economic Development Basil Rajapaksa yesterday said that the government while spending billions of rupees from its coffers to rehabilitate the facilities in the war ravaged north and east also borrow billions in dollars from friendly countries and lending agencies as loans for the same.

The Minister invited the private sector investors to come forward to start industrial and commercial activities in the Jaffna peninsula as it would help generate more employment opportunities for the educated youths of the area.

“Now the government of President Mahinda Rajapaksa has brought back all the displaced people of Jaffna to their own homes. This past incident is a bitter experience to the entire nation. As we have now completely ended the conflict that brought destructions especially to the north in the last thirty years, terrorism would not be allowed to raise its ugly head once again” the minister assured the people of Jaffna after inaugurating several development projects in the north.


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  Comments - 8

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  • Daya Friday, 15 July 2011 07:53 AM

    Need to borrow more to pay off the hedging deal.

    zorro Friday, 15 July 2011 07:59 AM

    spending billions in rupees but borrowing billions in dollars?

    simple mind Friday, 15 July 2011 08:07 AM

    They borrow for what, we dont know. But we've got to pay for them as well as the loans. All these loans are at commercial rate with concessions. Get China giving loans at concessions,

    kassa Friday, 15 July 2011 08:15 AM

    Apita Suba Anagathayak Mathithumani !!!!!!

    willows Friday, 15 July 2011 10:01 AM

    10% ??????

    Guru Friday, 15 July 2011 10:09 AM

    How many % goes into the pockets. Poor brainless taxpayers of SL.

    Atch Friday, 15 July 2011 10:29 AM

    LOL. If we used the billion of billions rupees for war affected ares, but can't see a single house with single bedroom...

    Metta Saturday, 16 July 2011 06:40 AM

    Apiwa thwath naya karayo karannada hadanne Manthreethumani...???


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