WB signs deals for fresh $ 139m support for SL development

The World Bank yesterday signed agreements with the Government to boost key socio-economic infrastructure and development with fresh funding of $ 139 million (nearly Rs. 28 billion).

One was a $ 69.53 million credit agreement to improve dams and irrigation schemes covering 165,000 hectares of agricultural land and improve the management of watersheds and water resources, benefitting 356,000 farming families. The other was a loan agreement in the amount of $ 69.33 million for the Kandy Multimodal Transport Terminal Development Project, which will develop the Good Shed terminal in Kandy.

The agreements were signed by Finance Ministry Secretary Sajith Attygalle and World Bank Country Director –Maldives, Nepal and Sri Lanka Faris H. Hadad-Zervos.