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Asian Tribune is published by World Institute For Asian Studies|Powered by WIAS Vol. 12 No. 2613

Sri Lanka receives USD 25 million credit from IBRD of the WB for PPP projects

Washington DC, 12 April, (Asiantribune):

USD 125 million from the International Development Association (IDA) for the Climate Smart Irrigated Agriculture Project (CSIAP).

The International Development Association (IDA) of the World bank has provided financial assistance of USD 125 Million to implement a climate resilient agricultural projects covering eleven dry zone districts in the country benefitting over 62,000 families.

The signing of this Loan Agreement took place today, during the Spring Meetings of World Bank and International Monetary Fund, held from April 8 to 14, 2019 in Washington DC, United States of America. Dr. R H S. Samaratunga, Secretary, Ministry of Finance on behalf of the Government of Sri Lanka and Mr. Hartwig Schafer, Vice President for the South Asia Region, on behalf of the World Bank, signed the agreement.

CSIAP is designed to support farmers that are vulnerable to climate change, and especially to climate-induced extreme events such as drought and floods. The project therefore intends to improve the productivity and climate resilience of smallholder agriculture in hotspot areas by increased adaptation of climate-resilient agricultural practices and technologies, improved agricultural productivity, rehabilitation of Irrigation Systems and enhanced access to markets in targeted smallholder farming communities. The overall responsibility of the implementation of this project lies with the Ministry of Agriculture, Rural Economic Affairs, Livestock Development, Irrigation and Fisheries & Aquatic Resources Development assisted by the Ministry of Internal & Home Affairs and Provincial Councils & Local Governments.

The 11 selected CSIAP Hot Spot Areas (districts) cover a total of 4,493 sq. km and includes 120 cascades, 1215 tanks connected to 11 river basins of Yan Oya, Maduru Oya, Menik Ganga, Kirindi Oya, Mandekal Aru, Mee Oya, Kala Oya, Per Aru, Mundeni Aru, Heda Oya and Karanda Oya in 11 dry-zone districts of Polonnaruwa, Anuradhapura, Hambantota, Kilinochchi, Kurunegala, Moneragala, Mullaitivu, Puttalam, Trincomalee, Batticaloa and Ampara covering 6 provinces. All citizens living in the selected hot-spot areas will be benefitted and this project mainly focus on households including women, youth, children and 62,417 farmer families will directly be benefitted from this initiative.

The Government has requested the World Bank Group to provide financial assistance to implement the above priority, for which the International Development Association (IDA) of the World Bank has shown their interest to mobilize its funds through a credit of United States Dollars 125 million.

- Asian Tribune -

Sri Lanka receives USD 25 million credit from IBRD of the WB for PPP projects
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