US $ 300 million credit facility to Sri Lanka by the Russian Government
8th February 2010
Hon. Rohitha Bogollagama, Minister of Foreign Affairs met Hon. Alexie Kudrin, Deputy Prime Minister of the Russian Federation and Finance Minister of the Russian Federation at the Ministry of Finance of the Russian Federation. The meeting was held at the signing of the “Agreement between the Government of the Democratic Socialist Republic of Sri Lanka and the Government of the Russian Federation on the extension of a state credit to the Government of the Democratic Socialist Republic of Sri Lanka”. The Finance Minister of Russian Federation warmly welcomed the Foreign Minister and the delegation. Foreign Minister, Rohitha Bogollagama thanked the Hon. Kudrin for the warm welcome and thanked the Russian Federation for the extension of the credit line of US $ 300 million to Sri Lanka. The Foreign Minister mentioned the close bilateral relations existing between Sri Lanka and the Russian Federation. He emphasized the need for increased economic cooperation between the two countries and mentioned the existing opportunities in Sri Lanka for investment. Signing of the bilateral Agreement between Sri Lanka and Russia on the extension US $ 300 million credit facility to Sri Lanka by the Russian Government is an important outcome of President Rajapaksa’s visit. Mr. Udayanga Weeratunga, Ambassador of Sri Lanka and Hon. Dmitry Pankin, Deputy Finance Minister signed the agreement on behalf of the two governments during a ceremony at the Russian Ministry of Finance. Memorandum of Understanding on Media Cooperation which was also signed during the visit is expected to result in close cooperation between media organization of Sri Lanka and Russia.
The meeting and the signing ceremony was attended by the Russian media.
During the visit President also met the senior officials of “GAZPROM”. Mr. Alexcie Millor, Chairman Gazprom warmly welcomed the President of Sri Lanka and the delegation. During his introductory speech Mr. Millor explained the recent developments between Gazprom and the Government of Sri Lanka. H.E. Mahinda Rajapaksa has shown the interest to purchase of oil directly from Russia rather than through the Singapore due to the cost factor. And also explained the current situation regarding the eight oil blocks in the Manar basin. H.E. President appreciated the initial work by the Gazprom on the oil and gas exploration work in Sri Lanka. And also requested to expedite the process. On this reply speech Mr. Miller agreed to speedup and sent a team to Sri Lanka soon to expedite the further actions. And also agreed to further discuss regarding the direct purchase of oil from Russia. Delegation has visited the main control room of Gazprom.
