Sri Lanka gets Hungarian credit for Colombo water supply

Jan 25, 2013 (LBO) – Sri Lanka will sign up export-import credits of 34 million Euros from Hungary to rehabilitate two water treatment plants supplying the capital Colombo, information minister Keheliya Rambukwelle said. The Hungarian Export Import Bank will provide 16.714 million US dollars to rehabilitate a treatment plant in Labugama and 17.383 million to a plant in Kalatuwawa. There will be 50 percent Hungarian content.

The loans will have an interest rate of 1.1 percent. The loans are repayable over 15 years including a grace period of 3 years.

The plants are operated by Sri Lanka’s National Water Supply and Drainage Board.

The agency had also obtained an Asian Development Bank credit to upgrade distribution and trim leakages.