Sri Lanka has stepped up efforts to strengthen bi-lateral relations with Libya, with a visit to the Libyan capital by Sri Lankan Minister of Agricultural Development, Maithripala Sirisena.
The discussions centred around increasing co-operation especially in the areas of economy, trade and investment, said a press release after the visit on October 18.
The meeting followed soon after a Sri Lankan firm won the right to build 2,500 houses in the African country over a two year time period.
The Sri Lanka State Engineering Corporation was granted the mega housing construction project in Libya worth US$495 million.
This recent economic cooperation is seen as furthering Sri Lanka’s policy of attempting to move away from Western businesses and towards Asia and Africa.
In April this year Libya pledged US$500 million as a financial co-operation package for development projects in Sri Lanka. These are intended to take place across the country in many different industries.
Other countries that have recently extended financial help to Sri Lanka included Burma, which donated US$50,000 to the Sri Lankan government and Iran, which not only granted $450million for a hydropower project, but also provided for Sri Lanka’s entire crude oil requirement via a seven month credit facility.
