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Japanese assistance for the Colombo Malambe light rail service

ITN News Editor
By ITN News Editor January 4, 2019 18:53

Japanese assistance for the Colombo Malambe light rail service

Japan has expressed the consent of granting a loan assistance of 1850 million US Dollars for the launch of a Light Rail Service from Colombo Fort to Malambe.

Japan is willing to grant financial and technical assistance for the 17 kilometre long rail service from Colombo Fort to Malambe. The Japanese International Cooperation Agency has come forward in this respect. The number of railway stations that will come up under the light rail project to be built from Colombo Fort to Malambe is 16.

The Cabinet memorandum submitted by Minister of Finance and Mass Media MangalaSamaraweera to procure the loan assistance received the nod of the Ministers. This loan assistance is slated to be given under six stages by the year 2024. 260 million US Dollars will be received under the first stage.

It has been agreed to grant this loan at a concessionary interest of 0.1 percent per annum.

ITN News Editor
By ITN News Editor January 4, 2019 18:53

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