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Port City - tough negotiations ahead:
The sea reclamation of the Port City project in
Colombo, funded by China will start in September-October, soon after
the monsoon is over. It will cover an area of 269 hectares, when
filled. “We are now restarting the project and the Chinese company
has already begun repairing the partly constructed breakwater,”
The International Monetary Fund (IMF) has agreed
to grant a US$ 1.5 billion loan to Sri Lanka in support the
government’s reform agenda over the next three years, the IMF said
on Thursday. Following discussions between IMF staff and the Sri
Lankan authorities during the 2016 Spring Meetings in Washington in
April,
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