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Aug 18, 2011 10:48:59 AM - itnnews.lk

Sri Lanka grants a loan of 10 Million US Dollars to the Maldives. The inking of this agreement which would be beneficial for economic development of the two countries was signed in Colombo today. The loan, which will help Sri Lanka increase her export earnings, has been given via the Bank of Ceylon. It will encourage particularly the export of vegetables and fruits. The loan has been granted to the Maldives to facilitate the supply of food to hotels in the island as a credit facility which will lead to economic development of the two friendly nations. It will be possible to achieve enhanced benefits by the export of fruits and vegetables to the Maldives when a surplus exists in the country. President of the Maldives Mohammed Nasheed, Minister Geethanjana Gunawardena and Chairman of the Bank of Ceylon Dr. Gamini Wickremasinghe and General Manager W.A. Nalini were present at the exchange of the documents related to the credit facility.