The Government of Japan has decided to grant a US$90 million concessionary loan (Rs.10 billion) to Sri Lanka for the purpose of implementing development programmes. The declaration on provision of the loan was handed over to Finance Minister Ravi Karunanayake by Japanese Ambassador in Sri Lanka Kenichi Sugama at the Ministry of Finance on Saturday (30).

A press release issued by the Ministry said that Sri Lanka should repay the loan in 25 years and a seven year grace period has been given.  The Loan has been given on 1.4% interest.