Government to avoid loans for massive projects

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The government will not obtain loans for large-scale projects involving infrastructure, co-cabinet spokesperson Udaya Gammanpila has said.

“We hope to carry out these projects by forming Public-Private Partnerships under the build–operate–transfer model,” Gammanpila told reporters on Tuesday.

He pointed out that Sri Lanka has to settle 6.8 billion dollars as foreign debt in 2021.

“The debt amounts to 5.5 billion US dollars while the interest is worth 1.5 billion dollars,” Gammanpila observed.

He added that the government has decided to depend on local sources to obtain debt.

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