ICT Boost

Dec 22, 2011 (LBO) – Sri Lanka will get more support from the World Bank to boost the use of information technology and increase access to state services online for business and people, a government minister said. Information minister Keheliya Rambukwelle said the cabinet of ministers had approved the borrowing of 11 million dollars to extend the island’s E-Sri Lanka development project.

An existing 53 million dollar financing is to end on December 31. The new programme will end on June 2013 and will be implemented by the state ICT Agency.

Sri Lanka will get additional funds from the World Bank’s concessionary International Development Association window. The 25-year credit will have a 5-year grace period and an interest rate of 1.25 percent a year.

The loan will also have a 0.5 percent commitment charge on the undisbursed balance and a service charge of 0.75 percent on the disbursed amount.