ADB to give US$1.4bn to SL

Money 2The Asian Development Bank (ADB) would provide 1.4 billion US dollars to Sri Lanka over the next four years to finance health, sanitation education and energy, according to the bank officials.

Newly appointed ADB Country Director for Sri Lanka Sri Widowati told media recently that the ADB would disburse 406 million US dollars for ongoing projects during this year. In 2014 ADB is expected to disburse 406 million US dollars for ongoing projects.

“ADB remains active in Sri Lanka and we want to do more. We will continue to focus on infrastructure development, including renewable energy, transmission efficiency, expansion of water supply urban areas with lower leakages at the same time focusing on the education sector, she said.”

Ahsan Tayyab, Unit Head, Portfolio Management of the ADB’s Colombo resident mission said that as of May 2014, the ADB had active projects of 2.14 billion US dollars. The ADB also actively involved in modernizing Sri Lanka’s state-run education system boosting information technology skills through 380 million US dollars of projects in primary education boosting and also vocational training.

Of that 619 million US dollars were financing water supply and sanitation projects from Greater Colombo to Sri Lanka’s rural dry zone and Jaffna and Kilinocchi areas which are recovering from a 30-year conflict.

Another 497.5 million dollars had gone for road and expressways, with power getting 427 million US dollars including for clean energy.

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