Ceylon Eco Friendly Products Head Udaya Gunaratne told journalists that Sri Lanka could earn foreign currency much more than apparel, tea and other exports if it embarked on recycling shredded currencies of Asian nations alone.

“Sri Lanka could earn a sufficient amount to settle its debt if the industry is carried out in an effective manner. Currently worldwide, the discarded currency is destroyed either by burning or dumping into the sea/earth which are not eco-friendly,” he said adding Central Banks globally spend large amounts to do so.