pennews
www.pennews.net
World Bank provides loan to Sri Lanka to strengthen local authorities
International

World Bank provides loan to Sri Lanka to strengthen local authorities

Agency News

Colombo, May 14: International Development Association (IDA) of the World Bank has provided a loan of 70 million US dollars to Sri Lanka to strengthen the services provided by local authorities to the people in several districts across the island, a statement from Sri Lanka's Finance Ministry said here Tuesday.

The loan will be used to strengthen the services provided by 134 Local Authorities in the Northern, Eastern, North Central and Uva Provinces under the Local Development Support Project (LDSP).

The LDSP is a project designed to strengthen the local authorities capabilities to deliver services to communities in a responsive and accountable manner and to support economic infrastructure development.

The total estimated cost of the project is approximately 100 million US dollars, out of which IDA will credit 70 million US dollars, the Sri Lankan government will contribute 7 million US dollars and the balance will be financed by the European Union (EU) as a grant. (UNI)