Water supply, sanitation improvement project receives $ 165 million WB loan
The Morning: A national water supply and sanitation improvement project has received a loan of $ 165 million from the development arm of the World Bank (WB) to improve facilities in seven districts of the island, a Cabinet decision released recently said.
“A loan amount of $ 165 million has been received by the International Development Association under the World Bank Investment Financing Performance Project,” the decision said.
The decision said the water supply and sanitation improvement project was started with the intention to increase access to water supply services and sanitation facilities in Mullaitivu, Kilinochchi, Badulla, Monaragala, Ratnapura, Kegalle, and Nuwara-Eliya, centering 540 Grama Niladhari divisions.
An additional stage of the project is to receive a second tranche of funds.
“In order to expand the scope of the project, the World Bank has approved an additional financial component. With this finance, pipeline extension projects have been identified in Matara, Kurunegala, Matale, and Gampaha districts that have implemented these projects.”
OSL take:
Sri Lanka’s development programme has presented many business/investment opportunities for foreign businesses/investors on the lookout for lucrative opportunities in the region and specifically in Sri Lanka. With Sri Lanka on the path to becoming a regional hub supported by the strategic positioning in the Indian Ocean and the strong trade ties, the development programmes undertaken by the country are evolving in nature. The growth and business potential in Sri Lanka has also made foreign multilateral agencies pledge funding for projects in Sri Lanka’s development programme. Foreign businesses/investors could therefore explore the business/investment opportunities in Sri Lanka’s development programme while also exploring new opportunities in the development of infrastructure and supplementary infrastructure facilities required by key economic sectors in the country in-line with the path of becoming a regional hub.
Article Code : | VBS/AT/20241226/Z_4 |