World Bank financial assistance of USD 150 million for two projects in SL

The World Bank has agreed to provide financial assistance amounting to USD 150 million in total for the implementation of two projects in the country.

An agreement to this effect was signed during the Spring Meetings of World Bank and International Monetary Fund, held from April 8 to 14, 2019 in Washington DC.

Finance Secretary R.H.S. Samaratunga signed the agreement on behalf of Sri Lanka while Hartwig Schafer,  World Bank (WB), Vice President of the South Asia Region signed on behalf of WB.

A loan of USD 125 million will be provided for the implementation of the Climate Smart Irrigated Agriculture Project (CSIAP) across 11 dry zone districts in the country.

Polonnaruwa, Anuradhapura, Hambantota, Kilinochchi, Kurunegala, Moneragala, Mullaitivu, Puttalam, Trincomalee, Batticaloa and Ampara are the districts earmarked for this project, the release noted adding that the project would operate under Ministers Vajira Abeywardena and P. Harrison.

Meanwhile, another loan of USD 25 million was granted to implement a Public-Private Partnership (PPP) project in the country.

The objective of this project is to enable the government to facilitate the development of priority infrastructure and services including Transportation, Tourism, Shipping, Affordable Housing and Power and Energy in the private sector.

This project would fall under the purview of the Finance Ministry.