July 25, 2016 Reading Time: 2 minutes
Reading Time: 2 min read
World Bank provides development loan
The World Bank has approved a loan of USD 55 million to develop and improve the standard of living in Jaffna.
The loan will cover the improvement of urban services and the preservation of cultural and environmental assets. A recent World Bank study has identified Jaffna as a ‘rapidly growing, single-city agglomeration in the Northern Province’.
Gemfields aids gemstone sector
Gemfields PLC, a multinational natural resources company, based in London, has chosen to support the Sri Lankan gemstone industry by establishing an organised supply chain.
Sri Lankan gems will be accessible to international buyers through Gemfields’ auctioning platform. They have also offered Sri Lanka technical assistance in the form of proprietary grading systems and market methodologies.
Military vessels dock in Colombo
The 13th Marine Expeditionary Unit, on board the USS New Orleans, has arrived in Sri Lanka for a port visit. The Marine Expeditionary Unit aims to increase bilateral ties with the Sri Lankan Navy by providing support and training for humanitarian assistance and disaster relief.
Nepal PM steps down
The Prime Minister of Nepal, K. P. Oli, has resigned prior to the no-confidence vote brought against him by the Nepali Congress party and the CPN-Maoist Centre party.
Mr. Oli is accused of not upholding a power-sharing deal and of failing to address the political concerns of Nepal’s ethnic Madhesi minority. This is the 23rd Nepali government to fall since the establishment of multi-party democracy in 1990.
UN authorises chemical weapon transfer from Libya
The UN Security Council has adopted a resolution authorising the transfer of chemical weapons out of Libya for destruction. The resolution follows a call for international assistance to help Libya’s national unity government expedite the destruction of its remaining chemical weapons, by the Organisation for the Prohibition of Chemical Weapons.
ASEAN breaks South China Sea deadlock
A deadlock within ASEAN has been broken, after the Philippines dropped its request for a joint statement mentioning the Permanent Court of Arbitration’s legal ruling on the South China Sea.