Sri Lankan government and French agency sign Rs. 15 billion loan agreement for waste disposal project for two cities
The Government of Sri Lanka and Agency for French Development (AFD) have reportedly signed a loan agreement for a Rs. 15 billion for waste water disposal project in Ratmalana and Moratuwa.
The financing agreement was signed by Sri Lanka’s Finance and Mass Media Ministry Secretary Dr. R. H. S. Samaratunga and AFD Country Director Martin Parent in the presence of Ambassador of France for Sri Lanka and the Maldives Eric Lavertu at the Ministry of Finance and Mass Media.
The Finance Ministry has stated that the Ratmalana/Moratuwa Wastewater Disposal Project aims at improving access to the sewerage service for 45,000 residents of Ratmalana and Moratuwa. It will include significant extensions of the sewerage network and more than 10,000 domestic, commercial and industrial connections. Sewage will be treated by the existing Ratmalana wastewater treatment plant.
According to reports, the project will include information, education and communication campaigns to promote sanitation and hygiene in order to enhance the expected positive impacts.
The National Water Supply and Drainage Board (NWSDB) will implement the project over a period of five to six years.
NWSDB has already prepared the project design with the support of an AFD-financed Engineering Consultant.
Blue Economy is key for Sri Lanka, being an island. Blue Economy is a major source of foreign currency, jobs but also food security. It is also a challenge for the environment and the sustainability itself of its strong potential. As many as 70% of the 2.2 million tourists and four million expected by 2020 are focusing on the coastline, AFD has said in a statement.
OSL take:
The Sri Lankan government is engaged in an ambitious development drive creating many business/investment opportunities for foreign investments. The signing of a loan agreement between Sri Lanka and the French aid agency ensures the availability of funds for a large scale waste disposal project. Therefore, interested foreign businesses could explore possibilities of bidding for such projects or become service providers for large scale projects. On the other hand, foreign businesses could look at making representations to the Sri Lankan government on development projects to cover other key areas in the country.
| Article Code : | VBS/AT/21022019/Z_1 |