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Tuesday, July 31 , 2012 - 5.45 GMT
Austria pledges USD 100 million for development projects


The Government of Austria pledged loan assistance of USD 100 million to the Government of Sri Lanka to support development works of the country.

During a meeting with the Economic Development Minister, Basil Rajapaksa to discuss the trade and economic relation between the two countries, the Austrian Ambassador to Sri Lanka Dr. Ferdinand Maultaschi has pledged to help Sri Lanka to rebuild its economy and provide necessary assistance for further development works.

The Austrian envoy has recalled that diplomatic relations between the two countries had spanned 60 years and the two countries had a strong relationship during that period. A recent visit by deputy Foreign Minister of Austria further strengthened the relation he has said.

Under first phase of aid programme drinking water projects, hospital modernization projects, railway and highway bridge construction projects will be carried out, states the Ministry of Economic Development.

Further discussion will be held to decide the second part of the funding projects and consideration will be given to rehabilitation and upgrading and strengthening of advanced technological projects, Integrated Landslide mitigation project for soil stabilization and slope securing, Rehabilitation and upgrading of Sewerage infrastructure and sanitation projects, the Ministry further said.

“Austria will help Sri Lanka to initiate wind power generation projects. Austria is one of the European countries which use wind power as a major power source”, the Ambassador said.

Minister requested the ambassador to assist Sri Lanka to start small scale wind power plants thereby enabling country to use them for agriculture and rural development.


  005 TD  



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Last modified: July 31, 2012.

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