Japanese Foreign Affairs Minister Yoko Kamikawa, currently on a two-day official visit to the country, yesterday said Japan intends to rapidly resume its existing Yen loan projects in Sri Lanka.
She was speaking at a joint media briefing alongside Foreign Minister Ali Sabry, PC, at the Foreign Affairs Ministry.
She said Japan will resume all its yen loan projects in Sri Lanka after the Memorandum of Understanding (MoU) on debt restructuring is signed, and the Government’s intention to swiftly conclude a bilateral agreement.
Japan is leading the international discussions on Sri Lanka’s debt restructuring as the Co-Chair of the Official Creditor Committee (OCC).
“We are looking forward to see the early signing of the MoU on debt restructuring between the OCC and Sri Lanka,” said Foreign Minister Yoko Kamikawa.
Japan is expecting to further strengthen its cooperation with Sri Lanka in the maritime domain to realise a “Free and Open Indo-Pacific”, she said. In this regard, based on a request from Sri Lanka, Japan will offer a vessel equipped with sonar to develop nautical charts, she said.
Japan highly values Sri Lanka under the leadership of President Ranil Wickremesinghe and is earnestly addressing the debt issue and promoting reforms to overcome the economic crisis, she said, adding that the various reforms that Sri Lanka has undertaken are all essential for the re-normalisation of its economy.
Foreign Minister Ali Sabry expressed his appreciation to Japan for the supportive role it played in the external debt restructuring process as a co-chair of the OCC, as well as for its grant assistance. Sabry said that as of today, the country has not only recovered from an economic collapse but has experienced a rapid revival.
“As a trusted partner of Sri Lanka, I invited Japan to resume the Japanese investment projects which are currently in the pipeline and invited fresh investments from Japan in several sectors such as power, infrastructure including port and highways sectors, dedicated investment zones as well as in green and in the digital economy,” he said.
“As the current Chair of the Indian Ocean Rim Association (lORA), we discussed the importance of lORA as a platform to promote peace, stability, and sustainable development in the Indian Ocean region,” he said. The bilateral discussions also encompassed climate change, renewable energy, pandemic response, global health, disaster mitigation, and gender equality, with Japan pledging support for Sri Lanka’s initiatives in these areas.
