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Leading News from Sri Lanka ::
Feb 05, Colombo: Sri Lanka is to obtain a US$ 16 million loan from the OPEC Fund for International Development (OFID) to partly finance the Kalu Ganga Development Project.
The Cabinet today approved a proposal submitted by President Mahinda Rajapaksa as the Minister of Finance and Planning in this regard.
The total cost of the Kalu Ganga Development Project, which is a part of the Moragahakanda Development Programme implemented under the Mahaweli Development Programme, is estimated at US$ 167 million.
The projects includes building the main construction component of the project, a 67-meter high and 546-meter long dam across the Kalu Ganga at Pallegama and two saddle dams at a cost of US$ 102.2 million.
Of the total cost Saudi Fund for Development is to provide US$ 46 million and OFID is to provide US$ 16 million. The government is to bear the balance.
When completed, the project will increase existing water supplies to about 85,500 ha of drought-prone irrigation areas in the northern and central parts of Sri Lanka.
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