The U.S. Government, through its development agency, the U.S. Agency for International Development (USAID), is partnering with the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and the Association of Public Finance Accountants of Sri Lanka (APFASL) to strengthen Sri Lanka’s accounting and auditing sectors.
The Embassy of the United States of America announced today that the U.S. International Development Finance Corporation (DFC) Board of Directors has approved $120 million in new loans to grow and support the Sri Lankan economy.
Cash strapped Sri Lanka is to provide special 40-year tax amnesty for Chinese-built Colombo Port city to attract potential investors as it has so far failed to attract major foreign direct investments after the much-hyped since its opening for investors nearly one year ago, a senior treasury official said.
Worker remittances to Sri Lanka recovered in May from April levels, but still stand significantly below what the country received a year ago, Central Bank sources said.