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Thursday, March 28, 2008 - 4.54 GMT |
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World Bank grants US$ 65.33 m for water project |
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The World Bank yesterday (27) approved a US$65.33
million credit for the Sri Lanka Dam Safety and
Water Resources Planning Project to ensure the
safety of the public from risks of ageing dams and
to manage its water resources.
The project aims to improve the operational
efficiency of 80 dams and to establish sustainable
institutional arrangements for safety management and
operations and maintenance of major dams in the
country. Special attention will be paid to the
safety of 32 of the 80 dams that have been
categorized as high risk. The project will support
the preparation of a National Water Use Plan by
updating the Mahaweli Water Resources Development
Plan, which entails the preparation of a Water
Resources Development Plan for Mundeni Aru River
Basin . Feasibility studies of priority water
development options will also be undertaken.
Overall, the project is expected contribute to the
broader goal of poverty reduction through higher
productivity and by providing opportunities to
improve the incomes of small and marginal
landholders.
The credit is from the International Development
Association (IDA), the World Bank's concessionary
lending arm, and has 20 years to maturity with a
10-year grace period. The total project cost is US$
71.66 million, of which the IDA Credit is US$ 65.33
million and the Sri Lankan Government’s contribution
is US$ 6.33 million.
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