Project to upgrade slums

HNB signed a loan agreement with the Sri Lanka Women’s Development Services Cooperative Society (Women’s Bank) Ltd to assist in the upgrading of housing, housing infrastructure and community infrastructure of the Kuruniyawatta community of Kolonnawa.

The Kuruniyawatta Project is an on site upgrading project supported by the UN-HABITAT’S Slum Upgrading Facility (SUF).

Urban slums

The project is designed to assist Governments to lead and coordinate technical cooperation and seed capital initiatives to develop bankable projects that promote affordable housing for low- income households.

SUF is being piloted in four countries in Asia and Africa with Sri Lanka being one of these four countries. Initiating the second SUF project in Sri Lanka, the project finance advisor for SUF Ms. Angela Mwai expressed her view by saying, “In developing countries urban slums have been a developing problem.

If we think about the urban slums around the world, they are mainly located in central parts of the major cities. Therefore, for the urban development upgrading urban slums becomes crucial. The economic factor becomes a barrier in upgrading slums around the world.

However, LFSUS was established in order to facilitate the financial issue with the participation of public and private stakeholders”. The central objective of SUF is to assist developing countries to attract domestic capital for their slum upgrading and related infrastructure activities.

Dr. P. Ramanujam, Secretary of Ministry of Urban Development and Sacred Area Development, expressed his gratitude to HNB for the willingness to grant loans to this project jointly with UN-HABITAT, LFSUS and Sri Lanka Women’s Development Services Cooperative Society (WOMEN’S BANK) and thanked Chandula P. Abeywickrema, Deputy General Manager of HNB and Chairman of LFSUS who has been the “Leading Light” in the HNB Banking Sector for inaugurating this venture to serve the community of our country.

The main purpose of this project is to help the people specially in urban rural areas to open a new perspective in their lives, by way of providing opportunities to develop their business, jobs and also to assist in obtaining housing loans etc. We need institutes like these in Sri Lanka which can contribute to and stimulate its national growth in the country.

Infrastructure

The Kuruniyawatta project is located in the outskirts of the Shell-Gas Road off Kolonnawa main junction within Kolonnawa MC.

The total population of the entire settlement is 235 and their livelihood options comprise working as Municipal Council labourers, three-wheeler drivers, and other small scale, low-income business men. It is a multi ethnic community inclusive of Sinhalese, Tamils, Muslims, Malays and other ethnic minorities.

The proposed development of the Kuruniyawatta settlement will take place on site as the same land will be utilised for the development process.

Since most of the infrastructure is available within the settlement, the project will upgrade the existing houses within the limited area space.