Exim Bank supports development

Secretary to the Treasury Sumith Abeysinghe, signed two financing agreements relating to the construction of the Colombo Katunayake Expressway and the Hambantota Bunkering Project with the Vice President Zhu Xinqiang, of the Exim Bank of China recently. He is on a visit to Beijing to discuss future bilateral development assistance programme to Sri Lanka.

Congratulating Sri Lanka for the recent victory in defeating terrorism, the Vice President Zhu Xinqiang recalled the strong bilateral relations existing between the two countries and expressed that overall relations between the two countries have been further strengthened and consolidated with closer development co-operation. Recalling the improving trade & investment ties, he indicated that China would assist Sri Lanka in her future development efforts.

Treasury Secretary Abeysinghe gave a detailed account of the new opportunities that have arisen in Sri Lanka in the aftermath of the defeat of terrorism and explained the current development priorities of the Government, particularly under the Uthuru Wasanthaya (Northern Reawakening) Program.

Further the Secretary explained that under the leadership of President Rajapaksa, the Government has launched a comprehensive development program for accelerated development covering the entire country.

The signing of the two agreements will pave the way for much needed infrastructure requirements which will have an immense impact on the country's future socio-economic development.

The Hambantota Bunkering facility is a major component of the Hambantota Port Development Project, which is also largely being funded with Chinese assistance.

Upon completion, the Colombo Katunayake Expressway will establish a modern and efficient transport link between the Airport to the city of Colombo reducing the traffic congestion and the travel time.