The Loan Agreement was signed by Dr. R H S Samaratunga, Secretary, Ministry of Finance on behalf of the Government of Sri Lanka and Ms. Idah Z Pswarayi – Riddihough, World Bank Country Director for Sri Lanka and Maldives on behalf of the World Bank. The Loan Agreement was signed by Dr. R H S Samaratunga, Secretary, Ministry of Finance on behalf of the Government of Sri Lanka and Ms. Idah Z Pswarayi – Riddihough, World Bank Country Director for Sri Lanka and Maldives on behalf of the World Bank.
May 15, 2019

IDA provides $70 m loan to back LDSP projects

The International Development Association (IDA) of the World Bank has agreed to provide a loan facility of USD 70 million to Sri Lanka.

This loan has been granted to implement provincial development support-projects under the Local Development Support Project (LDSP).

This development support project is designed to strengthen the capabilities of local authorities and support economic infrastructure development in at provincial level by Strengthening Local Government Planning Systems, Improving Local Services and Economic Infrastructure and Institutional Development etc.

Total Estimated cost is approximately USD 100 million, out of which the IDA credit is USD 70 million, Government will contribute USD 7 million and the balance will be financed by European Union (EU) as a grant.

These projects will cover 134 LG bodies in the North, North Central, Eastern and Uva provinces.

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