EIB to loan Euro50mn for water-supply, sanitation in Sri Lanka
ECONOMYNEXT – The European Investment Bank will loan 50 million Euros to expand sewage and water supply in Sri Lanka’s capital Colombo.
"Increased access to sanitation to be achieved by this project will improve the lives of thousands of people living in Colombo and contribute to achievement of sustainable development goals in Sri Lanka," Andrew McDowell, European Investment Bank Vice President said in a statement.
The loan is part of a project co-financed with the Asian Development Bank.
It will be used to expand coverage of water supply and sewerage to the Kirulapone suburb of Colombo and build a water treatment plant in Wellawatte before water is released to the sea.
The agreement for a 25-year financing facility was signed in Brussels by Sri Lanka’s Finance Minister Ravi Karunanayake, Development Strategies Minister Malik Samarawickrama and McDowell, who oversees lending to South Asia. (Colombo/Ja23/2016)