Sri Lanka picks up US$ 197 mn from ADB to help two tsunami projects

ADB today
approved a US$197 million grant and loan package for two projects that will help
rebuild tsunami– and conflict-affected
areas of Sri Lanka. External funding
for the projects will total $256 million including grant cofinancing by the
European Commission and Sweden.

 

ADB today
approved a US$197 million grant and loan package for two projects that will help
rebuild tsunami– and conflict-affected
areas of Sri Lanka. External funding
for the projects will total $256 million including grant cofinancing by the
European Commission and Sweden.

 

A $150
million grant and a $7 million loan for the Tsunami-affected Areas Rebuilding
Project (TAARP) will help to rapidly improve the living conditions of people in
tsunami-affected areas by restoring basic social infrastructure, community and
public services, and livelihoods.

The grant comes from ADB’s

Asian Tsunami Fund
, set up in Februa