Chinese aid for Housing Scheme-15.07.2009-ITN News Sri Lanka

Work on a mega Housing Scheme will begin in September with a massive loan which Sri Lanka had hitherto not received from another country.
Minister Rajitha Senaratne said the sponsor is Aero Finance Organisation in the US. They have taken over the project and held discussions with Shin Hang Banking Corporation in China. It is initially expected to build 100,000 houses. But now they expect to build 130,000 houses. An understanding has been reached for an investment of 1.2 billion US dollars.

The agreement related to the construction work was signed between the Ministry of Construction and Engineering Services and the Sheng Yang Economic and Technical Solidarity Corporation of China today. Minister Rajitha Senaratne and the Vice Chairman of the Chinese Corporation Liu Vi inked the agreement. 130,000 houses will be built in Sri Lanka based on this agreement. 30,000 are for war heroes. The balance is for the lower, middle and upper income groups.

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