Urbanisation due to uneven development

Over half of the Sri Lankan population will be urbanised by 2015 due to the uneven development in the country, said a United Nations representative addressing a ceremony in Colombo to launch the HDFC Bank Thilina Tharu Art and Essay competition 2009.

He said growth in urbanisation will take place as a result of the vast shift of the population from poorer districts to developed areas for better living conditions.

Chairman, HDFC Bank S.M.M. Yaseen said with the war ending there is a tremendous need for housing and other construction activities in the Northern and the Eastern provinces. "The bank will set up branches in Jaffna, Mannar and Vavuniya districts to cater to the housing sector needs and promote saving among children", he said. (LF)