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Minister of Higher Education, Technology and Innovations, Information and Communication Technology, Dr. Bandula Gunawardena stated it was able to secure a US $ 104 million investment from the Korean Government for higher education in Sri Lanka and the Korean Government has agreed to provide additional loan amount as an aid. The Minister made this statement after a meeting with Korean Ambassador Heon Lee and high-level representatives of the Korean Exim Bank at the Ministry of Higher Education in Colombo. The Minister further stated The Ambassador agreed to look into the future arrangements for the granting of Korean Government aid for higher education in Sri Lanka and also preliminary discussions were held regarding the granting of aid under concessionary interest rates of the Exim Bank. It was agreed to invest US $ 104 million for the technical training centers of the Ocean University. Meanwhile, after a discussion with the bank officials, it was agreed to provide more financial provisions as concessionary loans. There made an agreement to grant the support from Korea to promote Korean technical education in Sri Lanka. Further discussions were held to enhance the Korean-Sri Lanka friendship and to provide Korean technical know-how to Sri Lankan higher education students.

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