Cabinet Spokesman Minister Bandula Gunawardena says he is hopeful that a large number of projects that are suspended at present will resume in September.
Speaking during the weekly Cabinet media briefing at the Department of Government Information this morning, Minister Gunawardena said all foreign funding was suspended after Sri Lanka declared bankruptcy last year.
He said that resulted in the suspension of projects in various sectors.
The Minister noted that with the implementation of the programme initiated by the President and the government, the economy is gradually stabilizing.
He said discussions with the International Monetary Board were also successful which resulted in the government securing a USD 2.9 billion deal, despite skepticism from the opposition.
Minister Bandula Gunawardena said the government has unveiled the domestic debt optimization plan and is in the process of discussing the comprehensive debt restructuring programme with local and international partners.
He said they are hopeful that an agreement can be reached on the debt restructuring programme by September which will take Sri Lanka out of bankruptcy and open doors for massive eternal funding.
He said once external funding starts flowing in addition to budgetary support from multilateral organizations, the suspended projects can resume.