Sri Lanka Treasury guarantees water project funding from Bank of Ceylon

water-supply

Oct 23, 2015 (LBO) – Sri Lanka is to implement a water supply project for the towns in east of Colombo with funding secured from Bank of Ceylon with a treasury guarantees, media spokesman Rajitha Senaratne told reporters on Thursday.

The cabinet of ministers have approved the implementation of 34 water supply projects with a cost of 39.19 billion rupees using funds from local banks.

The proposal made by Prime Minister Ranil Wickremesinghe, in his capacity as the Minister of National Policies and Economic Affairs, to issue a Treasury Guarantee to the Bank of Ceylon for obtaining the loan amount of 1,159 million rupees for the implementation of the Towns East of Colombo – Package II Water Supply Project, was approved by the Cabinet of Ministers.