Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* World Bank grants US$ 147 million loan to Sri Lanka to develop major cities
Sun, Mar 2, 2014, 12:45 am SL Time, ColomboPage News Desk, Sri Lanka.

Mar 01, Colombo: Recognizing the Sri Lankan government's vision to develop a well-planned and connected network of cities and townships throughout the country by 2020, the World Bank has agreed to grant US$ 147 million to Sri Lanka.

The loan assistance through the World Bank's lending arm, International Development Association (IDA) will be utilized to develop four major cities under the government's Economic Policy Framework.

The government has identified Colombo, Hambantota, Trincomalee and Jaffna as Large Cities to be developed under the programme while nine other cities covering the entire country will also be developed as Urban Growth Centers.

The World Bank has also agreed to provide a credit of US$ 102 million from its International Bank for Reconstruction and Development (IBRD) for Sri Lanka to immediately access in the aftermath of a natural disaster.

Sri Lanka had faced an increased occurrence of natural disasters such as floods, landslides, cyclones etc. during the last two decades, particularly due to climatic changes.

The IBRD will make the funds available for disbursement after the occurrence of a natural disaster.

Both proposals submitted by the President, in his capacity as the Minister of Finance and Planning, to conduct negotiations and to enter into a Financing Arrangement with the World Bank were approved by the Cabinet.

ColomboPage - Recent 10 Stories
Financial Fraud Investigation Unit of Sri Lanka police investigates MIG- 27 deal
-- [3 hours ago]
CID questions former Sri Lankan minister over journalists' murder
-- [4 hours ago]
Sri Lankan Prime Minister to visit North to hold discussions with Tamil leaders
-- [4 hours ago]
Two Universities Visit at Indiana Buddhist Temple
-- [9 hours ago]
President Obama intends to nominate Atul Keshap as Ambassador to Sri Lanka and Maldives
Suspect attacked Sri Lankan President's brother surrenders
Sri Lanka Freedom Party MPs attend rally in Ratnapura despite party directive to stay away
Sri Lanka to participate in the universal exposition World Expo 2015
Sri Lankan court orders probe into former Defense Secretary's bank accounts
Sri Lankan minster writes to President and PM asking not to nominate the 'corrupted' for elections

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.