US$ 150 m World Bank upgrade for Metro Colombo Urban Development

Friday, 27 May 2011 01:18 - - {{hitsCtrl.values.hits}}

Cabinet has approved a Metro Colombo Urban Development Project at a cost of US$ 150 million funded by the World Bank.

According to Media Minister Keheliya Rambukwella, the overall objective of the Metro Colombo Urban Development Project undertaken with World Bank funding is to improve planning and delivery of priority infrastructure and local services in the Metro Colombo Region.

He told the media at the weekly cabinet briefing that this project would reduce the occurrence of floods affecting the people and assets in the region; implement medium and small scale infrastructure projects benefiting the people in the region; and enhance the institutional capacity of local authorities in the region.

The project will be fully funded by the World Bank and the total cost is expected to be Rs. 16,650 million (US$ 150 million).

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