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
Pension program for migrant workers soon - President
-- [15 minutes ago]
Sri Lanka SMEs receive Rs. 4 billion financial assistance from government this year
-- [4 hours ago]
Sri Lankan President calls for flexibility in resolving people's problems
-- [4 hours ago]
Sri Lanka Telecom partnered SEA-ME-WE 5 Submarine Cable System wins at the Global Carrier Awards
-- [4 hours ago]
World-renowned U.S. dance group Battery Dance tours Sri Lanka
-- [4 hours ago]
Sri Lanka wins 'Award for Excellence in Human Development Reporting' for national and regional reports
-- [5 hours ago]
Sri Lanka's first ever professional management accreditation in tourism and hospitality sector
Sri Lankan President to ink several bilateral MOUs during visit to Malaysia
President's proposal to liquidate state-owned security service provider Rakna Araksha Lanka Ltd gets approval
Sri Lankan President asks lawmakers not to create unnecessary fear about Indo-Lanka trade agreement

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.