President Anura Kumara Dissanayake has met with the Prime Minister of Japan, Ishiba Shigeru in Tokyo during his official visit to Japan.
During the meeting, both leaders have reaffirmed their intention to further deepen and expand cooperation, including inter alia in the areas of security, economy, investment, and development cooperation, under the framework of the deepened and expanded Comprehensive Partnership established between the two countries, the Ministry of Foreign Affairs said in a statement.
Prime Minister Ishiba commended the trajectory of recovery of the Sri Lankan economy through the steady implementation of the IMF program and debt restructuring, and reiterated Japan’s continued support for Sri Lanka’s reform efforts.
President Dissanayake expressed appreciation for Japan’s leadership as one of the Co-Chairs of the Official Creditor Committee (OCC), enabling early signing of Sri Lanka’s debt restructuring, including Japan being the first OCC member to conclude a bilateral agreement on debt restructuring between a member country of the OCC and Sri Lanka in March this year. Both sides recognized that the steady implementation of various reforms under the IMF program and the early completion of the debt restructuring process will further restore investors’ confidence in the Sri Lankan economy. Both sides affirmed the importance of the provision of foreign loans that takes into account debt sustainability and transparency.
President Dissanayake also appreciated Japan’s continued support, including the resumption of 11 previously signed yen loan projects, in 2024, ahead of other creditor countries. Both sides welcomed the recommencement of the bidding of the Bandaranaike International Airport Development Project (Phase 2), which will contribute to strengthen connectivity and promote tourism in Sri Lanka, and confirmed commitment to expediting the related process for early completion. Both sides also confirmed the importance of steadily implementing already existing yen loan projects, including the development and improvement of transmission lines and the digitalization of terrestrial television broadcasting.
