World Bank to grant SL $150mn credit

Sri Lanka and the World Bank have signed two new agreements worth $150 million to improve climate resilience and agriculture productivity for small farmers and support priority infrastructure through public-private partnerships in the Island.

The World Bank said in a statement, Hartwig Schafer, World Bank Vice President for the South Asia Region and Secretary to the Ministry of Finance Dr. RHS Samaratunga, signed the agreements on behalf of the World Bank and the Government of Sri Lanka respectively.

The new projects include a $125 million credit for the Climate Smart Irrigated Agriculture Project, which will improve the resilience and productivity of agriculture, for more than 470,000 small farmers in 6 provinces in the dry zone of the country and a $25 million loan for the Framework Development and Infrastructure Financing to Support Public-Private Partnerships Project, which will help the Government develop a platform to attract and sustain investments required to fulfill future development priorities.