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Press
Release
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09/01/2008
World Bank provides additional Rs 4.4 bn
for the development
of Renewable Energy Sector
The
World Bank has provided a loan of Special Drawing Rights
26.3 million (approximately Rs 4.4 billion) as
additional financing for the on-going renewable energy
promotion efforts of the Government. This additional
financing was provided as a result of the resounding
success of the World Bank funded Energy Services
Delivery project and the follow-on Renewable Energy for
Rural Economic Development Project.
The additional financing is aimed at improving the
quality of rural life by providing off-grid electricity
to remote rural communities. This will help installation
of 50 MW grid connected electricity power generation
capacity, provision of direct electricity access to
60,000 households and 500 rural small and medium
enterprises and public institutions directly through off
grid systems such as solar, community hydro and
bio-mass.
This
is an interest-free loan with a twenty
year repayment period. Ministry of Finance
& Planning will be the Executing Agency for the
Project while DFCC Bank continues to act as the
Administrative Agency for the additional financing. The
DFCC Bank is expected to provide necessary project
support by means of project operation and provision of
technical assistance to address renewable energy sector
related issues, capacity building of stakeholders and
awareness creation.
The
Agreement in this effect was signed today in the
Treasury by Dr. P. B. Jayasundera, Secretary, Ministry
of Finance and Planning and Ms. Naoko Ishii, Country
Director of the World Bank on behalf of the Government
of Sri Lanka and the World Bank respectively.
Ministry of Finance and Planning
, Colombo
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18/12/2007
Development
of Education Sector and Small and Medium
Enterprises
The
Government of Sri Lanka and the Asian Development Bank (ADB)
signed two agreements today for US $ 130 million to improve
quality, relevance, effectiveness and equity of access
to secondary and tertiary education under the Education for Knowledge
Society Project
(US$ 80 million) and
accelerate the development of Small and Medium
Enterprises located outside the western province under
the Small and
Medium Enterprise Regional Development Project (US$
50 million).
The
total investment for the Education
for Knowledge Society Project is US$ 105.3 million
and it comprises of US$ 65 million loan and US$ 15
million grant from the Asian Development Bank and US$
25.3 million from the Government of Sri Lanka.
These funds will be utilized for upgrading
150 provincially administered secondary schools in the
poorest administrative divisions under the “Isuru”
schools programme of the Government enabling them to
offer advanced level science streams. Facilities for
teaching in key subjects such as Information and
Communication Technology (ICT), English and Technical
subjects will be improved. Computers and internet
facilities for 2125 schools and 15000 scholarships for
poor students will also be provided.
In
addition, the project will support Government reforms in
competency based education through the development of
curriculum, instructional materials, performance
standards and teacher training.
The
Center
of
Excellence
in English Education (CEIEE) will be established in
Peradeniya to improve the quality of English language
teaching while
Sri Lanka
institute
of
Advanced Technological Education
(SLIATE) will be upgraded to deliver more market
responsive tertiary education.
Integrating
the HIV/AIDS and Health Education in the secondary
school curriculum and Training of trainers and secondary
school teachers in HIV/AIDS and Health Education will
also be funded under the project.
The
project will be executed by the Ministry of Education
through the Ministry of Higher Education, Provincial
Department of Education in all provinces, National
Institute of Education and National Evaluation and
Testing Service. All project activities are expected to
be completed by 2012.
The
total investment for the Small
and Medium Enterprise Regional Development Project
is US$ 88.89 million. Of this amount, the Asian
Development Bank provides US$ 50 million. The
Participating Financial Institutions and Small and
Medium Enterprises will finance US$ 16.67 mn and US$
22.22 mn respectively.
These
funds will be used for on-lending to Small and Medium
Enterprises (SMEs) located outside the Western province,
through the DFCC,
NDB, Commercial and Sampath Banks
in order to accelerate SME’s development by
improving their access to credit, creating SME value
chain clusters, mainstreaming best practices in SME
financing and improving access to business development
services for SMEs.
The project will be executed by the Ministry of Finance
and Planning, through Central Bank of
Sri Lanka
and expected to be completed by
31st December 2010
.
Secretary,
Ministry of Finance and Planning, Dr. P.B. Jayasundera,
on behalf of the Government of Sri Lanka and the Country
Director of Asian Development Bank, Mr. Richard W.A.
Vokes signed the loan and financing agreements. A
Project Agreement was also entered into between the ADB
and the DFCC,
NDB, Commercial and Sampath Banks.
Ministry of Finance and Planning
Colombo
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27
August 2007
Japan Provides Grant
Assistance of Rs. 880 million (Japanese Yen 977 mn) for Improvements at the Department of Meteorology and the Sigiriya Museum
The
Government of Japan has provided a grant of Japanese Yen
(JĄ) 977 mn (approximately Rs. 880 million) for two
projects, under its Grant Aid Programmes.
The
first grant of JĄ 807 mn (approximately Rs. 726 mn) is
provided under General Grant Aid programme for
Improvement of Meteorological & Disaster Information
Network. The purpose of this grant is to develop a
reliable communication network among the relevant
institutions and to improve the meteorological
observation system and thereby improvement of
meteorological and disaster information network in Sri
Lanka. The new project will strengthen the nationwide
weather information network and automatic weather
observation systems of the Department of Meteorology, by
automating 38 meteorological stations. The automatic
weather information system will be connected to the Head
Office of the Department of Meteorology in Colombo
through a real-time satellite communication network. The
weather related information and forecasts as well as
warnings of predicted disasters are to be conveyed to
relevant organizations through the proposed intra-agency
communication network. The required basic designs for
the project have been carried out with the assistance of
Japan International Cooperation Agency (JICA).
This
project will be implemented by the Department of
Meteorology under the supervision of the Ministry of
Disaster Management and Human Rights in close
collaboration with the Japanese consultants and
contractors.
The
second grant of JĄ 170 mn (approximately Rs. 153 mn) is
provided under the Japanese Cultural Grant Aid Programme
to supply essential Display Equipment for the new
Archaeological Heritage Museum at the World Heritage
Site – SIGIRIYA. The installation of modern
presentation and display equipment, under the proposed
project will facilitate the dissemination of information
to visitors and interpretation of the unique
archaeological and cultural significance of the 4th
Century monument at SIGIRIYA. The grant
assistance to improve the facilities at the
Sigiriya Archaeological
Museum
will complement the on going construction work of the
Museum with the assistance of the Government of Japan.
The construction work of the museum buildings are
expected to be completed by the end of March 2008 at a
cost of about Rs. 220 mn.
In
considering the significance of the Sigiriya heritage
site, the Government of Japan has already provided
financial assistance under the Tourism Resources
Development Project to improve the access roads to the
heritage site and improvement of the fresco gallery,
observation platform and steel stairway leading to the
rock summit, construction of visitor convenience &
safety facilities and landscape improvements at the
heritage site.
This
project will be implemented through the Central Cultural
Fund under the supervision of the Ministry of Cultural
Affairs in close collaboration with Japanese
counterpart consultants.
The
signing of Exchange of Notes pertaining to the above two
grants took place today, at the Ministry of Finance and
Planning. His Excellency Kiyoshi Araki, Ambassador of
Japan in Sri Lanka signed the Exchange of Notes on
behalf of the Government of Japan while Dr. P B
Jayasundera, Secretary, Ministry of Finance and Planning
signed on behalf of the Government of Sri Lanka.
Ministry of Finance and Planning
Colombo
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06 June 2007 ADB Provides
US $ 13.5 million for Water Supply in Polonnaruwa
The Government
of Sri Lanka and the Asian Development Bank (ADB) today signed
a supplementary loan agreement for US $ 13.5 million (Approximately Rs. 1,480 million)
to meet the additional funding requirement for completion
of the Secondary Towns and Rural Community-Based Water Supply & Sanitation Project.
The project
is aimed at providing drinking water and sanitation
facilities for the people in the urban areas of Batticaloa ,
Muttur, Polonnaruwa, Hambantota and the rural areas
in the North Central and Batticaloa in North -Eastern Provinces.
The additional funding of US $ 13.5 million will be used for
the implementation of project activities in the urban areas
of Polonnaruwa district. Under this component, 85,000 people
in urban areas will gain access to piped water supplies and
3,000 people will have access to improved sanitation facilities
and better understanding of hygiene. The project is expected to
be completed by 2009.
The project
is being implemented through the National water Supply
and Drainage Board under the supervision of Ministry of
Water Supply & Drainage.
Secretary,
Ministry of Finance and Planning, Dr. P.B. Jayasundera
signed the loan agreement on behalf of the
Government of Sri Lanka while Country Director,
Asian Development Bank (ADB) Resident Mission in Colombo,
Mr. Richard W.A. Vokes signed on behalf of the ADB.
Ministry of Finance and Planning
Colombo
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30 May 2007 French
Assistance for Development of Construction Industry
The Government of France
has agreed to provide a concessionary loan up to Euro
10 million for development of Construction Industry
in Sri Lanka.
The
objective of the project is to strengthen the capacity
and improve the ability of the Construction Industry
to facilitate its participation in rehabilitation of
tsunami damaged infrastructure expeditiously.
Out
of Euro 10 million Euro 9 million (Rs.1170 mn) will be
provided as credit to the domestic construction
industry through the Central Bank of Sri Lanka.
This credit facility can be used for purchase
of construction equipment and also for working
capital requirements of the small and medium
entrepreneurs in the sector. The Central Bank
of Sri Lanka will channel the credit funds through
commercial banks and leasing companies registered with it.
The
balance Euro 1 million will be provided to strengthen
the management competence and technical capacity of
the employees in the construction sector by contributing
to the establishment Advanced Construction Training
Academy (ACTA) by the National Construction Association.
The
signing of the Agreement for the credit facility
took place today at the Ministry of Finance and
Planning. Mr. Jean Bernard Maucor, Resident
Representative of Agency Francaise de Development (AFD)
signed the Agreement on behalf of the French Government
and Dr. P.B. Jayasundera, Secretary to the Ministry of
Finance and Planning on behalf of the Government of Sri Lanka.
The Ambassador for France in Sri Lanka H.E. Michel Lummaux
has also attended this occasion.
Ministry of Finance and Planning
Colombo
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25/04/2007
A Loan of US $ 300 million from the Asian Development
Bank for the implementation of Colombo Port Expansion Project
The Government and the Asian Development Bank (ADB)
today signed a loan Agreement for US$ 300 million to develop the Colombo Port
under the Colombo Port Expansion Project11:46 AM 4/25/2007.
The total investment cost of the project is US $ 780 million of which US$ 480 million will be financed by the public sector and the balance US$ 300 million by the private sector. Of the public sector component the Asian Development Bank provides US$ 300 million and the Government of Sri Lanka contributes US$ 180 million. The balance amount of US$ 300 million will be borne by the private sector for the construction of the first container terminal under a concessionary Agreement.
The objective of the project is to promote the country’s economic growth by improving the competitiveness of Sri Lanka in international trade through expansion of the Colombo Port using public-private partnership to maintain its status as a regional transshipment hub port.
The public sector finance will be utilized for construction of harbour infrastructure facilities. It includes construction of the breakwater, the dredging of approach channels and harbor basin, relocation of the submarine oil pipeline, construction of ancillary facilities as well as the provision of navigational aids. The construction of the first container terminal and procurement of associated handling equipment will be done through the private sector financing. The Government will select the concessionaire for at least the first two terminal components through open competitive bidding.
Sri Lanka Ports Authority (SLPA) will be the Implementing Agency for this project under the supervision of the Ministry of Ports and Aviation. The project will be completed by 2010.
Up to now, the Government has entered into loan and grant agreements to the value of US$ 719 million. Of these commitments, US$347 million from Japan for the implementation of Pro -poor rural development project, Greater Colombo Transport Development Project and Water Sector Development Project, US$ 17 million each from Spain and Germany, US$ 13 million from Austria, US$ 12 million form the Netherlands and US$ 12 million from UN agencies were received. Total commitments expected from the ADB in the year 2007 is US$ 515 million. Colombo Port Expansion Project is one of the projects that earmarked under the ADB expected commitments.
Secretary, Ministry of Finance and Planning, Dr. P.B. Jayasundera signed the loan agreement on behalf of the Government while Country Director, ADB , Mr. Richard W.A. Vokes signed on behalf of the ADB. A Project Agreement was also entered into between the ADB and the SLPA.
Ministry of Finance and Planning Colombo
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09/03/2007 Japan Provides a Grant of
Rs. 1,380 million
The Government of Japan
has provided a grant of Japanese Yen (JĄ) 1,530 million
(approximately Rs. 1,380 million) for two projects,
under its Grant Aid Programmes.
One
grant amounting to JĄ 1,200 mn (approximately Rs. 1,080
mn) is provided under the general Non-Project Grant Aid
Programme. The purpose of the grant is to contribute to
the promotion of economic development efforts through
balance of payment support. This is the third grant
offered under this programme to Sri Lanka by the
Government of Japan. The proceeds of the grant will be
used to import goods as agreed upon between the two
governments. The proceeds of the previous grant of JĄ
800 mn offered in November 2004 have been used for the
importation of around 20,000 metric tons of fuel oil by
the Ceylon Petroleum Corporation.
The
second grant of JĄ 330 mn (approximately Rs. 300 mn) is
provided under the Japanese Food Production Programme.
The proceeds of the grant will be used to purchase
agricultural machinery and equipment which will help to
increase the productivity in the agriculture sector in
Sri Lanka. These machinery and equipment will be made
available both to the under privileged farmers and also
to the Department of Agriculture for its seed production
activities which in turn will facilitate improving the
quality of agricultural produce of the targeted farmers.
The Government of Japan has been providing assistance
under the Food Production Programme annually to Sri
Lanka since 1977.
Part of
the value of the goods imported under these grants will
be deposited as counterpart funds in two separate
Special Accounts which will be utilized to finance
projects falling within the Ten Year Development Vision
announced by the Government, thereby promoting socio
economic development in Sri Lanka.
The
signing of Exchange of Letters pertaining to these
grants took place today, at the Ministry of Finance and
Planning. His Excellency Kiyoshi Araki, Ambassador of
Japan in Sri Lanka signed the Exchange of Letters on
behalf of the Government of Japan while Dr. P B
Jayasundera, Secretary, Ministry of Finance and Planning
signed on behalf of the Government of Sri Lanka.
Ministry of Finance and Planning Colombo
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01/03/2007
Austrian Assistance
for the Rehabilitation and Upgrading of Southern
Catchment of the Grater Colombo Sewerage System
The Government of Sri
Lanka and the Bank Austria Creditanstalt of Austria has
entered into an Agreement today for Rehabilitation and
Upgrading of Southern Catchment of the Greater Colombo
Sewerage System.
The Government of
Austria offered Euro 10.7 million under its concessional
credit scheme for the project. Construction of a new
pumping station at Wellawatta, rehabilitation and
upgrading of sewerage lines of Galle road, Duplication
road, Kirulapane and Marine drive will be attended by
this project. The work of the project will complete
within 2˝
years.
Project will be
implemented by the National Water Supply and Drainage
Board.
Mr. R.A. Jayatissa,
Deputy Secretary to the Treasury signed the Agreement on
behalf of the Government of Sri Lanka and Mr. Htun Aung,
Senior Advisor and Senior Manager Ms Susanne Kunitz
signed on behalf of Bank Austria Creditanstalt.
Ministry of Finance and Planning Colombo
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Tender Notice No NPTSL-04-078
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