Funds, technical expertise worth Yen 2,000 m for Lanka
Dinesh Weerawansa in Japan
President Mahinda Rajapaksa ended his four-day official visit to
Japan on a high note, securing both financial assistance and technical
expertise worth nearly Yen 2,000 million.
The most notable happening on the final day of his visit yesterday
was a significant agreement with the Japan Bank for International
Cooperation (JBIC).
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Picture by Chandana Perera
President Mahinda Rajapaksa meets Governor of Japan Bank for
International Cooperation Koji Tanami. |
JBIC Governor Koji Tanami met President Rajapaksa at the Imperial
Hotel before Sri Lanka and JBIC signed the agreement through which the
Japanese financial assistance would be channeled.
During his meeting with top JBIC officials, President Rajapaksa
thanked for the assistance over the last few years. He recalled how JBIC
funded the Uda Walawe project and said the people in those areas are now
enjoying the benefits.
He also commended the yeomen service by JBIC on various road
development projects, including the Colombo-Matara highway, as well as
in the fields of ports and fisheries.
With the fast-changing world that now encourage eco-friendly
projects, Sri Lanka would embark on a special Liquified Nitrogen Gas
(LNG) project at Kerawalapitiya. The US$ 610-million project, which
would generate electricity from biogas, would be an effective mean to
face future power crisis.
The Japanese Government would meet almost two third of the total cost
of the project, pumping in as many as US$ 400 million. At a time the
world is focusing more on eco-friendly ventures, the LNG project would
be a big boost for Sri Lanka’s economy in the long run.
The project that would generate electricity from biogas would help
cut down fuel costs and also protect environment. The total power
generation expected is 300 MW.
JBIC Governor, Koji Tanami (Japan) and Power and Energy, Ministry
Secretary, M.M.C. Ferdinando (Sri Lanka) signed the agreement on behalf
of the two countries.
Japan would also contribute both technical and financial assistance
to establish a Coastguard Department. Japan’s Lands, Infrastructure and
Tourism Minister Tetsuzo Fuyushiba held successful talks with President
Rajapaksa in this regard.
The Japanese Ministry agreed to provide technical assistance, in
addition to the costs involved in setting up the unit. |
