AIIB grants USD 280 m loan for housing and landslide prevention projects

News

The Asian Infrastructure Investment Bank (AIIB) yesterday (Apr 04) announced that a loan of USD 280 million will be granted to Sri Lanka for the implementation of two projects.

A sum of USD 200 million will be granted for a housing project in Colombo while USD 80 million will be used to develop a mechanism that would assist on reducing the risk and damage from landslides, the AIIB said in a press statement.

The housing project would see the construction of 5500 housing units and other related infrastructure that would be provided to families residing under poor living conditions.

Further, the USD 80 million loan will be used to support the review and strengthening of the policy and regulatory systems for landslide management at the local level, the AIIB said.

“With global warming contributing to increased risk of both the number and intensity of climatic events in Sri Lanka, landslide mitigation efforts are an important part of ensuring the sustainability of vital infrastructure,” AIIB Director General Supee Teravaninthorn was quoted saying in a media release release.

Comments

Still No Comments Posted.

Leave Comments

Most Reviews

May 31, 2025

- 482 - 0

Flt Lt Kasun Cumaratunga , more than a pilot, a guardian remembered on his 37th death anniversary

Kasun, was born in 28th Sept 1964, the grandson of the legendary author and linguist Munidasa Cumaratunga and son of SSP Bindu Kumaratunga and Winifred

June 2, 2025

- 449 - 0

National Tax week launched

The Inland Revenue Department (IRD) backed by the Excise and Customs Department today launched a fresh drive to collect taxes including some Rs.780 billion listed as ‘collectable defaults’.

June 2, 2025

- 354 - 0

SriLankan Airlines’ new A330 Fleet to perform low fly past over Colombo on Wed.

May 29, 2025

- 262 - 0

Mahindananda and Nalin Fernando Jailed

Former Sports Minister Mahindananda Aluthgamage and former Sathosa Chairman Nalin Fernando have sentenced to 20 and 25 years respectively after they were found guilty in a case of fraud.

May 30, 2025

- 259 - 0

In Pix: Weather situation in Colombo

June 3, 2025

- 192 - 0

Krishanthi Kumaraswami convicts FR dismissed by SC

The Supreme Court today unanimously dismissed a Fundamental Rights petition filed by five convicts in the 1996 Krishanthi Kumaraswamy abduction, rape, and murder case.