Sri Lanka to obtain USD330Mn World Bank loan for climate mitigation

climate environment pollution

Jun 06, 2019 (LBO) – Sri Lanka’s cabinet of ministers has approved the implementation of phase 1 of a multi-phase program for mitigation of climate disadvantages.

The proposal was presented by Mangala Samaraweera, Minister of Finance to hold loan negotiation discussions and enter into financial agreement with the International ank for Development and Reconstruction to implement climate and weather predicting and flood mitigation and project under USD 310 million investments.

The 8-10 year project will be carried out in three phases, with the first phase aimed at giving early flood warnings and reducing the danger of flooding in the Kelani River.

The first phase will especially focus on the Kelani River stretch between Hanwella and Kaduwela.