Exim Bank of India visits Sri Lanka

A three-member team from the Export Import (Exim) Bank of India visited Sri Lanka from 7 to 9 December to review the progress of Polgahawela and Aluthgama Integrated water supply projects, being implemented under the Buyer’s Credit facilities under the National Export Insurance Account (BC-NEIA) Program. 

The team, which included General Manager Shilpa Waghmare, Assistant General Manager Mitali Pendharkar, and Chief Manager Ranjan Roy, paid a courtesy call on the Indian High Commissioner Gopal Baglay and briefed him about the progress of the projects and their visit.

The Exim Bank of India has extended Buyer’s Credit of $ 441.42 million to support four projects in Sri Lanka, of which two projects have already been completed. For the two ongoing Integrated water supply projects at Polgahawela and Aluthgama, a support of $ 91.80 million and $ 164.90 million respectively, has been provided to the National Water Supply and Drainage Board – Sri Lanka (NWSDB). The project at Polgahawela is being executed by VA Tech Wabag Ltd., and the project at Aluthgama by Ion Exchange (India) Ltd. Both the projects have achieved almost 90% physical progress.

During the visit, the Exim team visited project sites at Aluthgama and Polgahawela to assess the progress of projects and interacted with the contractors. The Exim Bank team held meetings with senior officials of the Department of External Resources, Ministry of Finance of Sri Lanka, and NWSDB in Colombo, to inter alia, review and discuss the way forward for early completion of the two projects. They also discussed projects which could be taken up under the BC-NEIA Program in the future.

The water supply projects in Sri Lanka are community-centric priority projects. A project for supply, erection and commissioning of a water treatment plant and distribution to nine reservoirs across the Dambulla region has already been successfully executed by VA Tech Wabag under Buyer’s Credit.

The BC-NEIA is a concessional loan facility extended by India Exim Bank to sovereign governments and their nominated government-owned entities (parastatal agencies) for the execution of projects in certain sectors. Presently, 91 countries are in the positive list under the BC-NEIA Program.