OPEC Fund extends US$ 40 m for road development

Thursday, 11 October 2012 00:30 - - {{hitsCtrl.values.hits}}

The OPEC Fund for International Development signed a US$ 40 million loan agreement with the Government of Sri Lanka to help the development of roads in the country.

Director-General of the OPEC Fund for International Development (OFID) Suleiman Jasir Al-Herbish and the Secretary to the Treasury Dr. P. B. Jayasundera signed the agreement in the presence of President Mahinda Rajapaksa yesterday at Temple Trees.

OPEC Fund for International Development Director-General commended Sri Lanka’s impressive progress especially with regard to three of the Millennium Development Goals – education, children, and health during his meeting with Minister of External Affairs Prof. G. L. Peiris.

Prof. Peiris expressed appreciation of the substantial contribution already made by the OFID to the economy of Sri Lanka through support for projects like the National Highways Sector Project and the Kalu Ganga Development Project.

Minister Peiris also referred to excellent work done under OFID co-financed projects in Sri Lanka. A good example is provided by community projects co-financed with the government and the Asian Development Bank.

Jasir Al-Herbish briefed Minister Peiris on innovative work being done by his organization in the field of energy poverty. The aim of these initiatives, he explained, is to bring energy within the reach of less advantaged sections of the population, to facilitate their social advancement.

(www.info.gov.lk)