According to the minister, MP Ranawaka had said the present government was acquiring foreign loans for higher interests such as seven per cent.

“This is not true. The government had obtained all the loans for interest lower than seven per cent. However, previous governments had obtained loans for high interest.  The loan acquired for the Nilwala Ganga Project was 23.8 million Francs from France and the interest was 10.85 per cent,” he said. (Lahiru Pothmulla and Sanath Desmond)