Sri Lanka decides not to obtain foreign loans for projects
December 1, 2020 05:30 pm
The Cabinet and the government have decided that Sri Lanka will no longer obtain foreign loans to implement projects, says Co-Cabinet Spokesman Minister Keheliya Rambukwella.
He mentioned during the online press conference held to inform Cabinet decisions, earlier today (01).
The Minister said that in the future, the government will use Build–operate–transfer (BOT), Build Own Operate (BOO), and Public-Private Partnership (PPP) approaches or foreign investments for projects.
Rambukwella added that if Sri Lanka continues to obtain more loans, it will exceed the country’s Gross Domestic Product (GDP).