Transport, Highways and Mass Media Minister Dr. Bandula Gunawardhana told Parliament yesterday that foreign loan assistance will not be available to start development projects without debt restructuring.
The minister said that the loans taken by Sri Lanka have not been restructured so far and the government will work to restructure the debt in the next two weeks, otherwise no money will be received from the World Bank, Asian Development Bank or any other fund.
The minister said this replying Kandy District MP Wasantha Yapa Bandara expecting answers.
The Minister stated that the development projects in Sri Lanka are carried out according to foreign loan assistance and if foreign aid is not received, no matter what kind of plans are implemented, the development projects cannot be implemented in practice.
The Minister said that there is a risk of landslides in the railways and highways, but no matter how many plans are made to fix them, they cannot be done without foreign loan assistance.
The minister said that the decision regarding the development of Kadugannawa city will be made according to the allocations received in the upcoming budget.
