Austrian Government has assured of US$ 100 assistance for Sri Lanka Government to boost its economy and to complete development projects during the meeting with Economic Development Minister Basil Rajapaksa and Austrian Ambassador in Sri Lanka.
The US$ 100 million package will be in the shape of a grant and a soft loan and US$ 65 million loan portion will carry a 2% interest which has to be repaid within 30 years period.
According to Economic Development Ministry, project which consists of two stages will cover drinking water, hospital modernization, railway and highway bridge construction projects under the first phase of the programme.
The second phase will carry out rehabilitation, upgrading and strengthening of advanced technological projects, integrated landslide mitigation project to prevent soil erosion and slope securing along with infrastructure and sanitation projects.
The Austrian envoy, Dr. Ferdinand Maultaschi has pledged to assist Sri Lanka at the discussion of trade and economic relations between two countries and recalled the diplomatic relations of both countries which had spanned 60 years.