Saline Drip

Sri Lanka’s slow moving donor funded projects, will be fast tracked through a high powered cabinet subcommittee chaired by the President, Cabinet Spokesman said Thursday. Sri Lanka’s slow moving donor funded projects, will be fast tracked through a high powered cabinet subcommittee chaired by the President, Cabinet Spokesman said Thursday. Sri Lanka is expecting some nearly a billion dollars of donor funds this year, but procurement delays, changes in government policy and bureaucratic red tape is making things difficult.

“Aid disbursement ratios are on average low as three to ten percent, except for some years when it peaks at 20 percent,” Media Minister Mangala Samaraweera told journalists.

Sujatha Cooray, Director External Resources Dept. of the Treasury said last week that the government was hoping to sign up US$ 600 mn worth of loans by December. As at Sept. around US$ 170 mn worth of new agreements have been signed. The government had already received US$ 328 mn from earlier agreements.

The bulk of the funds have come from the World Bank, ADB and Japan to fund rural, health and North East Reconstruction, Cooray said.

Foreign aid usually accounts f