In another blow to the Sirisena-Rajapaksa coup, Japan International Corporation Agency (JICA) loan operations in Sri Lanka have been put on hold due to the prevailing political turmoil in the country, Colombo Telegraph learns.
JICA has informed its project directors that the operations have been put on hold “until relevant issues are resolved with regard to notification, legality and legitimacy of the borrower and/or executing agency.”
However, JICA has stated that the disbursement requests received at its Colombo office as of October 26, without discrepancies will be disbursed normally.
This comes a day after Japan suspended the USD 1.5 billion worth light rail transit project in Sri Lanka due to the current political instability. The project was handled by the Ministry of Megapolis and Western Development.
Several international partners, including the European Union, have signaled that they will adopt punitive measures against Sri Lanka if the country fails to uphold Parliamentary democracy, rule of law and peace.
« Gibbon, Gorky & Gamarala
Full Text: On The State Of The Economy: Statement Issued By Mangala Samaraweera, Minister Of Finance & Mass Media »