ZCZC
BCN-30
WORLDBANK-SRILANKA-LOAN
World Bank provides loan to Sri Lanka to strengthen local authorities
COLOMBO, May 15, 2019 (BSS/Xinhua) – The International Development
Association (IDA) of the World Bank has provided a loan of 70 million U.S.
dollars to Sri Lanka to strengthen the services provided by local authorities
to the people in several districts across the island, a statement from Sri
Lanka’s Finance Ministry said here Tuesday.
The loan will be used to strengthen the services provided by 134 Local
Authorities in the Northern, Eastern, North Central and Uva Provinces under
the Local Development Support Project (LDSP).
The LDSP is a project designed to strengthen the local authorities
capabilities to deliver services to communities in a responsive and
accountable manner and to support economic infrastructure development.
The total estimated cost of the project is approximately 100 million U.S.
dollars, out of which IDA will credit 70 million U.S. dollars, the Sri Lankan
government will contribute 7 million U.S. dollars and the balance will be
financed by the European Union (EU) as a grant.
BSS/XINHUA/HR/1458