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The South Asia Subregional Economic Cooperation (SASEC) Program, set up in 2001, brings together Bangladesh, Bhutan, India, Maldives, Myanmar, Nepal, and Sri Lanka in a project-based partnership to promote regional prosperity by improving cross-border connectivity, boosting trade among member countries, and strengthening regional economic cooperation. [1]
ADB also responded to a multitude of natural disasters in the region, committing more than $850 million for recovery in areas of India, Indonesia, Maldives, and Sri Lanka which were impacted by the 2004 Indian Ocean earthquake and tsunami. In addition, $1 billion in loans and grants was provided to the victims of the October 2005 earthquake in ...
Colombo International Financial City built on land reclaimed from the Indian Ocean and funded with $1.4bn in Chinese investment is a special financial zone and another major Chinese investment in Sri Lanka. [103] In April, Sri Lanka experienced a default on its foreign debt amounting to US$50 billion, with China being one of the creditors involved.
The Colombo Plan is a regional intergovernmental organization that began operations on 1 July 1951. The organization was conceived at an international conference, The Commonwealth Conference on Foreign Affairs held in Colombo, Ceylon (now Sri Lanka) in January 1950, and was attended by the finance ministers of Australia, the United Kingdom, Canada, Ceylon, Pakistan and New Zealand, and the ...
NEW DELHI (Reuters) -India and Sri Lanka will conduct feasibility studies on petroleum line, land bridge connectivity between the countries, Indian Prime Minister Narendra Modi said on Friday ...
The Palk Strait Bridge and Tunnel is a proposed 23-kilometre (14 mi) road and rail bridge and tunnel over the Palk Strait between Dhanushkodi in Tamil Nadu (a state in Southern India) and Talaimannar on Mannar Island, an island off the northwestern coast of Sri Lanka.
He also sought to build business ties, [16] including a hydro-electric deal, and inaugurated the India-funded Supreme Court of Bhutan building. [17] While talking about the visit, Modi said that Bhutan was a "natural choice" for his first foreign destination because of the "unique and special relationship" the two countries shared. He added ...
Sri Lanka: Reduction of Landslide Vulnerability by Mitigation Measures Project: 80.0: Government of Sri Lanka 4 April 2019: Sri Lanka: Colombo Urban Regeneration Project: 200.0: Government of Sri Lanka and private partner 21 May 2019 Nepal Upper Trisuli I Hydropower Project 90.0: ADB, IFC, Korean Consortium 11 July 2019 Turkey Efeler 97.6 MW ...