COLOMBO: India has extended a fresh financial assistance of USD 45.27 million for upgrading Kankesanthurai (KKS) Harbor in northern Sri Lanka into a commercial port and strengthening the country’s efforts to become a regional maritime hub.
Sri Lanka s Ministry of Finance and Export-Import Bank of India (Exim Bank) signed an agreement in this regard on January 10, the Indian High Commission said.
“An agreement for Indian financial assistance for USD 45.27 million (LKR 6.9 billion) for upgrading Kankesanthurai (KKS) Harbor was signed on January 10 in New Delhi by David Rasquinha, Managing Director, Export-Import Bank of India and RHS Samaratunga, Secretary to Treasury of Sri Lanka,” the statement said.
The upgradation project would make KKS Harbor a full- fledged commercial port, further strengthening Sri Lanka s efforts to become a regional maritime hub, the statement said.
It would also assist in reconstruction efforts in northern Sri Lanka.
In terms of the MoU between India and Sri Lanka for rehabilitation of KKS Harbor, four out of the six phases of the rehabilitation have already been completed under India s grant assistance.-PTI
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