Rs. 3.5 b soft loan from Austria

Wednesday, 29 November 2017 00:00 - - {{hitsCtrl.values.hits}}

The Austrian Government is stepping up its assistance to Sri Lanka, by providing Euro 19.35 million (Rs. 3,546 million) interest free soft loans to upgrade the Katunayake Engineering Technology Institute and to obtain 100 ambulances for Government hospitals in the country.

This loan facility provided through Raiffeisen Bank of Austria will set aside Euro 9.85 million to procure 100 ambulance cars for Government hospitals and another Euro 9.5 million for enhancing and upgrading of Institute of Engineering Technology, Katunayake.

The Ambulance Car Project provides 100 ambulances to selected hospitals with some of the necessary lifesaving equipment. Supplying of ambulances to required hospitals is vital to provide emergency healthcare to patients within golden hour to prevent from deaths, reduce injuries/disabilities and transfer the patient efficiency and safely to the nearest hospital with required healthcare facilities. The people in the entire country will benefit through this project by enhancing access to the quality health care facilities.

The project on Enhancing and Upgrading of Institute of Engineering Technology, Katunayake will upgrade existing workshops and provide latest equipment facilitating to increase the student intake up to 500 by 2020.

Facilities of the Institute of Engineering Technology, Katunayake have not been improved with the increased intake of the students in past several years and this has resulted in a huge problem of insufficient facilities such as class room space, equipment and required academic staff. This project will contribute to meet the huge unmet demand for middle level technicians.

Ministry of Finance and Mass Media Secretary Dr. R.H.S. Samaratunge signed the Credit Agreement of the Ambulance Car Project on 28 November on behalf of the Government of Sri Lanka in the presence of the Deputy Commercial Counsellor of the Austrian Embassy Siegfried Weidlich. The Credit Agreement of the Enhancing and Upgrading of Institute of Engineering Technology (IET), Katunayake was signed on 2 November.