Total foreign financing disbursements top US$ 539 mn | Daily News

Total foreign financing disbursements top US$ 539 mn

Total foreign financing disbursements made for development projects and programmes during the period from January 1 to April 30, 2019 amounted to US$ 539 million in Sri Lanka , of which, US$ 535 million was disbursed as loans while nearly US$ 4 million was disbursed by way of grants.

The majority of the disbursements were from the loan agreements signed with China, which was almost 40 per cent followed by World Bank (14 per cent), Asian Development Bank (13 per cent) and Japan (12 per cent), according to Mid Year Fiscal Position Report -2019 of the Finance Ministry. The majority of the disbursements was in lieu of the projects implemented under the roads and bridges sector accounting for almost 52 per cent followed by the water supply and sanitation sector at 15 per cent, ground transport sector at 6 per cent and SME sector at 5.5 per cent.

As at April 30, 2019, the total undisbursed balance of foreign financing available from the already committed loans that are to be utilized in next 3-5 years was US$ 10,074 million. Almost 29 per cent or US$ 2,929 million has been committed for roads and bridges sector while US$ 1,796 million is committed to water supply and sanitation sector.

By the end of April 2019, total outstanding external debt of the Government was US$ 32.83 billion. Total debt service4 payments from January 1 to April 30, 2019 amounted to US$ 2,331.5 million.


 

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