Multi faceted support from Japan

By Dhaneshi Yatawara

The Japanese Government has promised its maximum support to upgrade the power generation in Sri Lanka, Secretary to the Power and Energy Ministry said at a press briefing on Friday.

Power and Energy Ministry Secretary M. M. C. Ferdinando stated that the Japanese Government will be supporting the Liquefied Nitrogen Gas (LNG) with a grant of US$ 400 million out of a total cost of US$ 610 million.

"Japanese Government extended their support to upgrade the LNG system and as an initial step a Memorandum of Understanding was signed between the two countries where Japan will extend technical assistance primarily," M.M.C. Ferdinando, stated at the press conference.

The MoU was signed between the Secretary of the Power and Energy Ministry and Minister of Land, Infrastructure, Transport and Tourism Tetsuzo Fugushiba of the Japanese Government.

The annual grant that Japan gives to Sri Lanka of, 320 million US$ through the Japanese Overseas Development Assistance programme, has been increased to 400 million US$, as a result of the visit of President Rajapaksa.

Japan will be providing financial assistance for the Moragahakanda Project, to build a budget Hospital for workers, a modern training school for nurses and several other road development and Eastern province development projects.

A significant agreement was signed between Sri Lanka and Japan Bank for International Cooperation (JBIC), through which the Japanese financial assistance would be channelled. JBIC Governor Koji Tanami met President Rajapaksa at the Imperial Hotel before the agreement was signed between the two countries.

Leading entrepreneurs commenting on the recently concluded visit of President Rajapaksa, thanked the President for making them part of the important visit, creating greater opportunities for the business sector. Giving their comments at the press briefing Deputy Chairperson of Ceylinco Consolidated Mrs. Sicille Kotelawela, Deputy Chairman of Associated Motorways (AMW) Thilak de Soyza and Dhammika Perera, Chairman/ Director General of the Board of Investments and several others, gave an overview of their achievements during the visit.

Minister of Foreign Affairs Rohitha Bogollagama who presided at the press conference briefed the media about the recently concluded important foreign visits including the visit to Japan and meeting of SAARC Council of Ministers in New Delhi.

In addition to the decision taken for Sri Lanka to host the 15th SAARC Summit, Minister Bogllagama added that arrangements will be made to set-up a SAARC Regional Centre for Economic Affairs.

In the joint communique issued by the two heads of States, Japanese Prime Minister Yasuo Fukuda said that he was happy to see a strong, reliable and far thinking visionary leader in President Mahinda Rajapaksa and Japan would not hesitate to come to Sri Lanka's assistance as a long standing friend of the country.

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