The Japan International Cooperation Agency (JICA) has suspended funding for 12 projects in Sri Lanka until there is an agreement on restructuring Sri Lanka’s debt, a Minister told Parliament today.
Ports and Aviation Minister Nimal Siripala de Silva said that among the projects suspended is the expansion project of the Bandaranaike International Airport.
He said that JICA had informed him they are prepared to resume funding for the projects after there is an agreement on restructuring Sri Lanka’s debt.
Nimal Siripala de Silva said that JICA wants an assurance from the International Monetary Fund (IMF) on Sri Lanka’s debt. However, the Minister said that work on some parts of the BIA project will continue with local funding.