World Bank cleared a US$ 75 million loan to Sri Lanka

A World Bank Wednesday cleared a US$ 75 million loan to Sri Lanka for housing reconstruction in the war ravaged North and East of the island. A World Bank Wednesday cleared a US$ 75 million loan to Sri Lanka for housing reconstruction in the war ravaged North and East of the island. Around 46,000 poor, conflict-affected families from the North and East will see their homes patched up, with the project also hoping to provide employment in the community.

The four-year program will help reconstruct 46,000 houses in the Northern and Eastern parts of the country providing a cash grant of up to Rs. 150,000 for each family.

Families with a monthly household income of less than Rs. 2,500 per month, those who have been displaced during the war, women-headed households, and those with land mine victims will benefit from this program.

“In addition to providing housing for about 200,000 poor and vulnerable people, we hope this program will pave the way for the development of a sustainable housing program,” said Peter Harrold, World Bank Country Director for Sri Lanka in statement on Wednesday.

The program will also generate several emp