ADB approves US $ 83 million for Dry Zone Water and Sanitation Project

(December 04, Colombo, Sri Lanka Guardian) Asian Development Bank (ADB) has approved financing to the value of US $ 83 million for the Dry Zone Urban Water and Sanitation Project. Of this amount US $ 23 million will be a grant and the rest will be a loan payable in 32 years with a grace period of 8 years. Interest will be at the rate of 1% per annum during the grace period and 1.5% thereafter. Government financing will amount to US $ 28 million.

The Project will directly benefit approximately 200,000 people (at project completion, 420,000 by 2030) in urban areas of the northwestern dry zone by providing safe drinking water and improved sanitation. In addition, around 100,000 will gain access to improved sanitation More than 400,000 will benefit from improved water management and distribution, as well as improved ecology. - Sri Lanka Guardian