Sri Lanka, Dec. 22 -- Labour Minister and Finance and Planning Deputy Minister, Prof.Anil Jayantha Fernando stated that Sri Lanka has been granted a repayment period of three to five years for the US$ 206 million received from the International Monetary Fund (IMF).Sri Lanka Developers

Prof. Fernando explained that the funds were provided as an emergency rapid financing facility to support the nation's rebuilding efforts following the devastation caused by Cyclone Ditwah. He noted that the IMF has offered such emergency loans to member countries in the immediate aftermath of similar disasters.

The loan will be disbursed to the country under five foreign exchange tranches and will carry a very low interest rate. The interest rate mechanis...