(UDHAYAM, COLOMBO) – Cabinet of the Ministers has approved the proposal made by Prime Minister Ranil Wickremesinghe in his capacity as the Minister of National Policies and Economic Affairs to engage in loan negotiations and enter into relevant agreements with EXIM Bank of India to rehabilitate the Kankesanthurai harbor.
Indian EXIM Bank has agreed to provide a loan of USD 45.27 million in this regard and the project will be handled by Sri Lanka Ports Authority.
Rehabilitation of the harbor in Kankesanthurai will encourage trade activities in the Northern part of the island.