News

No more foreign loans: Govt. Decides

The Cabinet and the Government have decided that Sri Lanka will no longer obtain foreign loans to implement projects, said Government Spokesperson and Minister of Mass Media Keheliya Rambukwella.

Minister of Mass Media Keheliya Rambukwella.

He mentioned this yesterday (1) during the online press conference held to inform Cabinet decisions.
The Government Spokesperson said that in the future, the Government will use the Build-Operate-Transfer (BOT), Build-Own-Operate (BOO), and Public-Private Partnership (PPP) approaches or foreign investments for projects.
Rambukwella added that if Sri Lanka continues to obtain more loans, it will exceed the country’s Gross Domestic Product (GDP).