It is reported that a proposal has been made to build a maritime expressway between Sri Lanka and make that road available for use by the countries to which Sri Lanka has obtained loans and to demand a debt repayment release.
This saves time in a day while flying across the expressway and saves an hour in flight time.
The proposal of this resolution is to request a waiver from the repayment of loans in Sri Lanka in proportion to the amount left to the parties concerned.
It is estimated that countries using the Ocean Expressway will be able to increase their annual profits by $ 8 billion and reduce costs by $ 2 billion.
A concept paper on this has already been published and the Cabinet is to seek approval to discuss the matter with the World Bank and other agencies.
At present the total foreign debt of the country is around US $ 60 billion.
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