Rs11.3bn Austrian loan for Sri Lanka water supply projects
Mar 08, 2018 17:00 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - UniCredit Bank of Austria has agreed to provide 61 million Euro (about Rs11,285 million) in loans to build a water treatment plant and new pipelines in Sri Lanka, the Ministry of Finance said.
A 3,500m3/day water treatment plant and other infrastructure will be built under the Kirama Katuwana Water Supply Project in Colombo district.
It will supply drinking water to around 31,000 people living in Katuwana and Walasmulla Divisional Secretariat areas including semi urban communities in Kirama and Katuwana townships, a statement said.
The Austrian Government through the UniCredit Bank of Austria will provide an interest free soft loan of 10.48 million Euro to finance this project.
An Export Credit Facility of 50.6 million Euro will be provided by UniCredit Bank to the National Water Supply and Drainage Board to finance 85% of a project for new pipelines.
The project is under the Augmentation of Water Pipelines along with the Orugodawatta-Ambatale Road Development Project.
This will shift existing more than 100 year old water pipelines laid along the Orugodawatta – Ambathale road section into the utility corridor of the road which is being constructed.
People’s Bank has agreed to provide the balance 15% of the project cost (about Rs1,410 million).
(COLOMBO, March 08, 2018)