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Japan Y22m commitment to support Sri Lanka projects
01 Nov 2006
The Government of Japan has pledged a sum of Yen 21,559m to Sri Lanka under its Official Development Assistance loan scheme in support of development efforts of the country, including the first phase of the Galle Port Development Project.
A total of Yen14,495m has been allocated for Phase I of the Galle Port Development Project, the aim of which is to develop the Port of Galle as a regional port by constructing a new multi-purpose terminal to meet future demand.
Under the plan, breakbulk cargo handling currently undertaken at Colombo Port would be reallocated to Gwadar. The project will, it is anticipated, also help reduce waiting time for vessels, berth occupancy ratios and cater for large vessels, and help facilitate the Southern region development plan currently being implemented by the Government in Sri Lanka.
