Cabinet approves implementation agreement for $ 3 m World Bank grant on ports and logistics

Wednesday, 28 January 2026 00:01 - - {{hitsCtrl.values.hits}}

The Cabinet of Ministers has approved the signing of an implementation agreement relating to a $ 3 million grant provided by the International Bank for Reconstruction and Development for the preparation of the proposed Sri Lanka Ports and Logistics Development Project.

Cabinet approval was granted in October 2025 to enter into the grant agreement with the International Bank for Reconstruction and Development to secure funding for project preparation. In line with that decision, the Secretary to the Ministry of Finance, Planning and Economic Development signed the grant agreement on 31 October 2025.

Under the terms of the agreement, an implementation agreement is required to be executed between the International Bank for Reconstruction and Development and the Sri Lanka Ports Authority. In addition, a Project Management Unit is to be established to support and oversee operational, technical, social, environmental, procurement and financial management activities related to the project.

Accordingly, the Cabinet has approved a proposal submitted by the Minister of Ports and Civil Aviation to proceed with signing the implementation agreement and to establish the Project Management Unit.