|
|
|
Wednesday, September 17, 2008 - 5.55 GMT |
|
World Bank gives extra US $ 151 m |
|
|
|
The World Bank has granted Sri Lanka extra
151 million dollars on credit for road,
education and housing reconstruction in
conflict-hit areas.
Sri Lanka is borrowing 98 million US dollars
for an ongoing road project, 43 million
dollars for housing reconstruction in the
North and East and 10 million dollars for
education.
The World Bank said its road project which
started in 2006 with a credit of 100 million
US dollars has shown quick results and 602
kilometres of roads would be completed by
2011.
Under a housing reconstruction project of 83
million US dollars which started in December
2004, 22,444 houses have been re-built, with
85 percent of the funds being disbursed. Out
of a total 34,784 houses, 6,730 were
partially completed and 5,597 are yet to
start due to the conflict. The 43 million US
dollars of additional funding signed up
Tuesday (16) is expected to help rebuilt
13,615 more houses.
The education development project which
started in 2006 with a grant of 60 million
dollar grant hopes to promote access and
improve the economic effectiveness of
education delivery.
The extra 10 million US dollars for
education will be to improve schools in
rural areas and estates. Estate workers are
some of the poorest in the country.
"The resources will support the development
of the capital stock of schools, such as
classrooms, library resources and reading
material, ICT facilities, and water supply
and sanitation, in rural and estate areas,"
says Harsha Aturupane, senior economist of
the World Bank.
"It will also promote English language
skills, to strengthen the future economic
opportunities of poor students and to be a
link language between children of different
ethnic communities."
The credits are from the International
Development Association (IDA), the World
Bank's concessionary lending arm, and have
20 years to maturity with a 10-year grace
period.
|
|
|
|
Contact Information: Send
mail to