Sri Lankan government to seek World Bank funding to part finance a waste disposal project
The government of Sri Lanka has decided to request World Bank funds to part finance a US$ 274 million project for waste disposal in the country’s Western Province.
The Cabinet of Ministers has granted approval to the Ministry of National Policies and Economic Affairs to negotiate a deal with the World Bank for US$ 115 million from the World Bank’s International Bank for Reconstruction and Development (IBRD).
The project to dispose solid waste in Aruwakkalu was formulated by the Ministry of Megapolis and Western Development and local councils. The project also includes the further development of an existing site in Muturajawela.
The project also involves stabilizing other waste sites at an estimated cost of US$ 274 million.
OSL take:
The move by the Sri Lankan government to seek funding from the World Bank to part finance the waste disposal project for the Western Province is an opportunity for foreign/local companies to come forward and provide effective solutions to address the issue of waste disposal. Also, the possibility of having easy access to funding would be an encouraging sign for experts to look at being part of the government’s project.
| Article Code : | VBS/AT/20180222/Z_5 |