September 8, 2016 Reading Time: 2 minutes
Reading Time: 2 min read
Cabinet approves loan from Asian Development Bank
The Cabinet has granted approval for obtaining a USD 250 million loan from the Asian Development Bank (ADB). The request for approval was submitted by the Minister of Finance, Ravi Karunanayake, through a Cabinet paper.
The loan will be disbursed in two parts of USD 125 million each. The funds will be used to improve capital markets, and mobilize resources to promote economic growth.
Ambassador to Iraq presents credentials
The Sri Lankan Ambassador to the Republic of Iraq, Niranjan Asoka Ranasinghe, has presented his credentials at a ceremony on 30 August in Baghdad. The Ambassador was granted an audience with the Iraqi President, Fuad Masum, afterwards.
During the meeting, Ambassador Ranasinghe briefed President Masum on Sri Lanka’s development under the Sirisena-Wickremesinghe administration.
Indian Prime Minister to visit Sri Lanka
The Minister of Health and Cabinet spokesperson, Dr. Rajitha Senaratne, has announced that the Indian Prime Minister, Narendra Modi, will visit Sri Lanka in May 2017. This will be his second official visit to Sri Lanka since 2015.
During his visit, Prime Minister Modi is scheduled to inaugurate a hospital in Hatton being built with the assistance of an Indian loan worth LKR 1.2 billion.
Denmark to buy leaked data on Panama Paper scandal
Denmark’s Taxation Minister has announced that Denmark will buy data leaked from Mossack Fonseca, the law firm involved in the Panama Paper scandal. This is the first time a government has openly agreed to pay for data leaked from Mossack Fonseca.
The Danish government plans to use this information to investigate whether 500-600 Danish taxpayers, who feature in the offshore archive, may have evaded paying taxes. The minister said that he would pay up to GBP 1 million for the information.
UN Convention on Cluster Munitions held in Geneva
The sixth meeting of states party to the UN Convention on Cluster Munitions was held in Geneva from 5-7 September. This meeting is the first since the adoption of the Dubrovnik Action Plan in 2015, which laid out the steps to further advance the treaty’s agenda from 2015 to 2020.
The meeting ended with the states party to the treaty agreeing to complete clearance of cluster munitions by 2030. The President of the meeting, Henk Cor van der Kwast, also reiterated the need to end the use of cluster munitions in conflict.
Prime Ministers of India and Japan hold discussions in Laos
The Prime Minister of India, Narendra Modi, and his Japanese counterpart, Shinzo Abe, have met on the sidelines of the ASEAN-India and East Asia summits in Vientiane, Laos. The two leaders pledged to strengthen ties in the areas of counterterrorism, civil nuclear cooperation, trade, and investment.
The two countries also resolved to strengthen cooperation on peaceful dispute resolution based on international law, and agreed on the importance of frank debate on regional issues at the East Asia Summit.