Sri Lanka capital’s drainage, wetlands boosted with World Bank credit

Chief Regulatory Officer at CSE Renuke Wijayawardhane presenting the listing certificate to Executive Chairperson at Renuka Hotels Shibani Thambiayah

Feb 03, 2012 (LBO) – Sri Lanka will boost drainage to reduce flooding and improve the wetlands around the capital Colombo in a 223 million dollar project which will be mostly financed with a World Bank credit. The government has negotiated a 213 million dollar credit to develop the Colombo metropolitan area under the Metro Colombo Urban Development Projects, the state information office said.

The project reduce flooding. It will start in April 2012 and finish in three years.

The project will expand capacity of the waterway and lakes in the Colombo metropolitan area, improve embankments, establish natural parks around degrading wetlands.

About 4 percent of 10 million US dollars of the project will come from the government of Sri Lanka.