US $ 1.85 b JICA loan for Colombo Light Rail project | Sunday Observer

US $ 1.85 b JICA loan for Colombo Light Rail project

Cabinet last week approved a Finance Ministry proposal to obtain a loan of US $ 1.85 billion from JICA for the Colombo Light Rail Project, a 17-km long elevated railway line from Colombo Fort to Malabe, at a concessionary interest rate of 0.1%, repayable within 40 years with a 12-year grace period.

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