Japanâ€™s MUFG to lend 100bn yen for Sri Lanka central expressway
ECONOMYNEXT – Mitsubishi UFJ Financial Group Inc (MUFG), Japan’s biggest bank, is to lend Sri Lanka 100 billon yen (about 142 billion rupees) to build part of its Central Expressway, a government spokesman said.
The funds will be used to build a 32.5 km section, from Potuhera to Galagedara, or phase three of the Central Expressway linking the capital Colombo with Kandy in the central hills.
A proposal by Prime Minister Ranil Wickremesinghe, in his capacity as the Minister of National Policies and Economic Affairs to enter in to an agreement with MUFG Bank for the loan was approved by the Cabinet of ministers this week.
(COLOMBO, July 04, 2018)