Sri Lanka’s Multi Billion Rupee Commitment – Courtesy China
Southern Expressway, Nelum Pokuna Mahinda Rajapaksa Theatre and Hambantota Port Development Program
Friday, February 03, 2012
Sri Lanka has spent an astounding Rs. 391.7 billion on investment projects in the country in the last four years. This enormous amount of money has been spread over five projects, of which only two have been completed but are still to serve any real purpose.
All of these projects have been undertaken by Chinese firms, and have been funded by loans obtained from the Chinese state-owned Export-Import bank. Many of these loans have been taken with interest rates for long term borrowing (20 years) varying from 3% to 6%, and short term loans at an interest of 2%.
All of these projects have been undertaken by Chinese firms, and have been funded by loans obtained from the Chinese state-owned Export-Import bank. Many of these loans have been taken with interest rates for long term borrowing (20 years) varying from 3% to 6%, and short term loans at an interest of 2%.
According to highly placed sources in the Finance Ministry, however, loans from the World Bank and Asian Development Bank for short term loans would have varied between 0.25% and 2%, while the interest rates for the long term loans are the same. It is believed that these loans would have come with stricter guidelines than what is being currently enforced by the Chinese. Read More »
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Nayana and her young daughter, Sakunthala live in a small mud hut, in the middle of the jungle.
CTV NEWS VIDEO PLAYER
CTV Calgary's Karen Owen went with a team from World Vision to Sri Lanka to meet some of the people who have benefitted from its programs and even more who need our help.
In part one of her series, Karen focuses on a mother and little girl whose home was destroyed by a wild elephant.Nayana and her young daughter, Sakunthala live in a small mud hut, in the middle of the jungle.
The hut was recently rebuilt after being badly damaged by a wild elephant.
The elephant crashed right through the mud wall. Nayana and her little girl were on the other side of the wall in bed.
"My heart was pounding, my legs were shaking. I felt so weak, but I knew if I stayed on I would lose my life and my baby's so I knew I could get out of the house through the door," said Nayana through a translator.
Elephants are a big part of life in Sri Lanka. They are cultural and religious symbols, beasts of burden and tourist attractions.
The Pinnawala Elephant Orphanage is a safe refuge for some of Sri Lanka's majestic pachyderms and is also a popular destination for tourists and locals.
It is estimated about 250 elephants are killed every year by farmers defending their crops and villages.
Elephant lookouts dot the landscape through the jungle in Sri Lanka.
Men stay up in the lookout at night, singing, lighting torches and setting off firecrackers to scare the elephants away.
Nayana and her daughter spend their days in their new hut but the nights are spent at her grandfather's home.
Nayana is too afraid to be alone and her husband abandoned the family when Sakunthala was just a baby.
Their life is not easy and even though they have little money and no protection, Nayana has big dreams for her little girl.
"I believe she will have a very good life. I don't know how to explain it, I sense it, she's very smart and I strongly believe she will have a very good life in the future," said Nayana.
World Vision hopes to find a sponsor family for Nayana and her daughter and hundreds of other children and families who are just like them.
For more information on the Alberta campaign, visit the World Visionwebsite.
