Sri Lanka to get over USD one billion in foreign assistance [April 03 2011]

Sri Lanka has been assured of foreign assistance to the tune of US dollar 1077.85 million for various development projects carried out island wide. Of this amount Rs 3137 Million comes by way of grants to assist the government's food production drive and for the improvement of skills of northern youths.

China Development Bank Corporation has agreed to provide US $ 500 million for road development projects connecting all electorates in the country. Road Development is one of the priority project of the Government of President Mahiinda Rajapaksa as it considers that road connectivity would contribute to lower transportation costs paving the way for high productivity.

Mass Media and Information Minister Dr. Keheliya Rambukwella told that a substantial amount of this foreign assistance goes for the development work of the north and east. “Already there are number of projects in progress.

These are additional financing to meet the rising costs off those projects" said Dr. Rambukwella Rs 1.98 Billion (USD 17.6 M) ADB fund will be utilized to complete the ongoing water supply scheme in the eastern Muttur in Trincomalee area benefitting over 50,000 people. A community livelihood development project in the war torn northern and eastern areas will be funded by World Bank with US Dollar 38 million.