$ 45 m Saudi soft loan for Kalu Ganga Project

Wednesday, 25 October 2017 00:01 - - {{hitsCtrl.values.hits}}

The Saudi Fund for Development (SFD) has agreed to provide a concessional loan of 168.75 million Saudi Riyal ($ 45 million) for Sri Lanka’s Kalu Ganga irrigation project to divert water to the dry zone.

The Kalu Ganga Left Bank Development Project will result in the construction of the Kalu Ganga Reservoir and increase the capacity of the Janaranjana Wewa and augmentation of minor and medium tanks, the Ministry of Finance said in a statement.

The project by the Ministry of Irrigation and Water Resources Management will also see the development of an irrigation canal system to provide water to the Kinniya and Kanthale Divisional Secretariat Divisions in the eastern Trincomalee District and Madirigiriya in the Polonnaruwa District.

The Ministry of Finance said the Sri Lankan Government in its long-term development strategy recognises irrigation and water resources management as a national priority.

The Saudi Fund for Development has also agreed to provide a concessional loan of 105 million Saudi Riyal ($ 28 million) for the Wayamba University Township Development Project under the Government policy of increasing spending on education.

The project, to be implemented by the Ministry of Higher Education and Highways, is designed to develop the academic facilities and infrastructure of the university as well as improve the livelihoods of people living near the university.

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