E-Paper
World bank gives $ 182 million aid
Sri Lanka late received a fresh financial boost of $ 182 million from the WB for reconstruction efforts in the war-ravaged north, to rehabilitate the lakhs of Tamils displaced by conflict and to develop infrastructure in other parts of the country.
Sri Lanka late on Thursday received a fresh financial boost of $ 182 million from the World Bank (WB) for reconstruction efforts in the war-ravaged north, to rehabilitate the lakhs of Tamils displaced by conflict and to develop infrastructure in other parts of the country.
Financial aid and material assistance have been pouring into Sri Lanka since the war against the Liberation Tigers of Tamil Eelam (LTTE) ended in May. India for one has pledged Rs 500 crore for reconstruction and rehabilitation.
The new WB package is divided into two parts. Of the total, $77 million package was approved for resettling the remaining internally displaced persons (IDPs) refugees in their original homes in districts of the northern province and to restore their livelihoods.
The remaining $105 million credit was given to support the rehabilitation of provincial roads in eastern, northern and southern provinces under the Provincial Roads Project.
"The challenges of reconciliation and reconstruction are daunting," WB country director for Sri Lanka Naoko Ishii said in a statement.
She added that the approval of aid package by the WB's board of directors demonstrates that development partners recognize the challenges that the country is facing and want to help.
"We trust the interventions initiated by the WB-supported projects in the North will build a good foundation for rehabilitation and reconstruction and provide a strong platform for the Government to welcome other development agencies as they too come forward to assist Sri Lanka at this critical juncture," she added.
Out of the aid package approved for IDP rehabilitation, the $65 million Emergency Northern Recovery Project (ENREP) was allocated to help the Sri Lankan government to return the remaining 100,000 IDPs and provide assistance to rebuild their economic and social lives.
The project will restore village-level infrastructure and war-damaged rural access roads, drinking water, irrigation facilities, and public office buildings, the World Bank said.
The credits from the International Development Association (IDA), the World Bank's concessionary lending arm, have 20 years to maturity with a 10-year grace period.
