Sri Lanka to get USD 33 million loan from Korea to build solid waste facilities

Apr 28, Colombo: Sri Lanka is to enter into a loan agreement with the Korean Economic Development Fund of the Export Import Bank to obtain a loan to improve country’s solid waste disposal facilities.

The Cabinet of ministers on Wednesday approved a proposal submitted by President Mahinda Rajapaksa, in his capacity as the Finance Minister to obtain a loan equivalent to USD 33.536 million to construct four solid waste disposal facility centers.

The Export – Import Bank of Korea has agreed to provide the loan in Korean currency.

Under the project the government will construct sanitary landfill facilities in four locations, at Panadura, East Nuwaragampalatha, Udunuwara and Hikkaduwa to minimize environment pollution and to improve the living environment of the residents in these areas.

The total estimated cost of the project is USD 41,886,000 and the government will finance the remainder.

Leave a Reply