- Last Update 2024-07-18 15:57:00
Korea grants Rs 5.4 billion loan for upliftment of IT sector in Sri Lanka
The Korean government today (Nov 5), agreed to provide a concessional loan of USD 30 million (Rs 5.4 billion) to uplift the IT sector in Sri Lanka. An agreement to this effect was signed today (Nov 5).
Issuing a statement, the Finance Ministry, said that the loan has been granted by Korea's Exim Bank at an annual interest rate of 0.15 percent, with a repayment period of 40 years and a grace period of 10 years.
The loan would be used to set-up the National Centre of e-Content Development for Computer-Assisted Teaching, the statement added.
The aim of the project, which would be implemented by the Education Ministry, is to uplift IT education for students across the country, and enhance the knowledge of teachers in the subject.
Among other projects expected to be implemented, are the establishment of a National Contents Development Centre (NCDC) in the North-Western Province, and two Provincial ICT Education Centres (PICTEC) in the Eastern and Southern Provinces.
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