Cabinet has approved the proposals made by the President to make the procure the International Financial Advisory Service to Lazard, France and International Legal Advisory Service to Clifford Chance LLP for consultation services needed seeking for Sri Lanka’s debt restructuring program in lie with financial assistance . The selection was made on the recommendations of the Steering Committees appointed by the Cabinet of Ministers new cabinet spokesman Minister Bandula Gunawardena said.
“Total fee estimate for the financial advisory service for 4 quarters of the year will be 5.6 million US dollars,” Minister told to reporters at the Cabinet Press briefing held this morning.
The Cabinet previously approved the provision of the services of an International Financial Adviser and an International Legal Adviser for the Restructuring of External Debt of the Government.
28 proposals have been received regarding obtaining the services of a financial advisor and 23 proposals regarding obtaining the services of a legal advisor.