Jan 31, Colombo: The World Bank and Sri Lanka have identified several new areas of development cooperation in addition to the ongoing projects funded by the World Bank.
The new areas of cooperation include renewable energy, waste disposal, watershed management, export oriented plantation, easing traffic congestion and pedestrian and road safety.
The agreement was announced when the Hartwig Schafer, World Bank’s Vice President for South Asia called on President Gotabhaya Rajapaksa at the Presidential Secretariat today (31), President’s Media Division said.
The World Bank official said funding could be made available for the projects that are to be implemented in these areas on concessionary terms.
President Rajapaksa recalling his relationship with World Bank funded projects such as road development and city beautification, completed during his tenure as defense secretary, has welcomed further assistance from the Bank.
Expressing his views on the development of the plantation sector, the President stressed the importance of focusing on minor export crops such as pepper and cinnamon.
"There is a huge opportunity for these crops in employment and export income generation," Vice President of the World Bank responded.
“At present, there are 18 projects in the country under World Bank assistance. Some of them are successful. Some are not. The Bank will continue to support the Kandy multi-mode terminal project to reduce traffic congestion,” he added.
President Rajapaksa emphasizing the importance of using modern technology in the proposed activities has agreed to have further discussions to decide on specific projects.
Dr. Idah Pswarayi-Riddihough, Sri Lanka Director of the World Bank and Dr. PB Jayasundara, Secretary to the President and several others participated in the discussion.