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IRAN TAKES OVER FROM JAPAN AS THE LEADING DONOR
NATION OF SRI LANKA

By Walter Jayawardhana

The Iranian broadcasting service , Press TV reported that Iran has over taken Japan to become Sri Lanka’s top donor nation.

Iran has “become Sri Lanka's top donor after committing to build a hydro power plant and upgrade the island's oil refinery,” the Press TV said.

Quoting Central Bank figures the the Iranian dispatch said, Iran has contributed 450 million dollars to construct the 150-megawatt power plant in the war-torn island and modernize its sole oil refinery.
According to the report, Sri Lanka has received 1.05 billion dollars of donations in the five months to May this year with Iran the country's main benefactor followed by Denmark, India, the Asian Development Bank, World Bank and Japan.

The report further said, Japan and the Manila-based Asian Development Bank used to be the island's key donors.

The change in economic aid occurred , Sri lanka’s traditional aid donors
In the Western nations were becoming restrictive in their aid giving .
Iranian President Mahmoud Ahmadinejad visited Sri Lanka in late April to inaugurate key projects in the South Asian island country.

In November, Iran promised to provide soft loans and grants to Sri Lanka to help the country expand its sole oil refinery, develop Uma Oya hydroelectricity and an irrigation project.

The appeal of the country’s opposition from the West to cut down aid had little effect due to the country changing its selection of donors.

 

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