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Sri Lanka state housing authority to sell Rs25bn in 5-year bonds

ECONOMYNEXT – Sri Lanka’s state-run National Housing Development Authority has been authorized to sell 25 billion rupees in bonds to build middle class housing, co-cabinet spokesman Minister Ramesh Pathirana said.

“The funds from the bond will be used for several middle class housing projects,” Minister Pathirana said.

“The houses will be given on concessionary terms.

“The recipients will be given repayment terms of 20 to 25 years. We expect to solve the problem of middle class housing with these projects.”

He said the projects will be implemented over the next five years.

Any direct borrowings by the NHDA will allow the spending to be outside the central government budget. (Colombo/Sept03/2020)