Rs. 59.5 b JICA loan for water supply and rural development

Tuesday, 21 March 2017 00:00 - - {{hitsCtrl.values.hits}}

Govt. to also borrow Rs. 11 b from Saudi Fund for Wayamba township project

Two loans totalling Rs. 59.5 billion have been approved by the Japan International Cooperation Agency (JICA) for the Kalu Ganga water supply expansion project and rural infrastructure development venture by the Government.

Both loans were approved on a Cabinet paper submitted by Prime Minister Ranil Wickremesinghe last week. The Kalu Ganga project will utilise Rs. 42.2 billion for improving the 70-year water supply system in the Kalutara District.

The rural infrastructure development projects to absorb Rs. 17.3 billion in funds from JICA though details of the assets to be developed were not released to the media.

The Government will also borrow $ 73 million or about Rs. 11.1 billion from the Saudi Fund for the development of the Wayamba Township Development Programme, which was approved through a Cabinet paper by Finance Minister Ravi Karunanayake.