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| Sunday, 25 December 2005 |
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UK, Sri Lanka Debt Relief Agreement British High Commissioner Stephen Evans met Finance Secretary P. B. Jayasundera on December 22 to exchange letters formalising the debt relief agreement between the Governments of the UK and Sri Lanka. A release issued by the Department for International Development Status: "In the wake of tsunami the UK extended its multilateral debt relief initiative to Sri Lanka. Through the scheme the UK will cover the costs of 10% of Sri Lanka's International Development Association debt service payments, releasing the Sri Lankan Government's own funds to use on tsunami reconstruction or other poverty reduction initiatives. "The total value of the debt relief is approximately 45 million pounds (approximately 8 billion rupees) with instalments paid annually over the next ten years." |
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