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USD 65.33 MILLIONS FROM WORLD BANK TO SRI LANKA TO FORTIFY AGEING WATER DAMS AND TO MANAGE WATER RESOURCES

By Walter Jayawardhana

The World Bank has announced that it has approved US Dollars 65.33 million for Sri Lanka to ensure public safety from the risk of ageing water dams and to manage its water resources.
The money will be spent for the island nation’s dam safety and water resources planning projects, the World Bank said.

The money is projected to be spent to improve the operational efficiency of 80 dams of which extraordinary attention will be paid to 32 dams classified as at high risk, the World Bank said.
The international lending institution said that the project will also improve the hydro-meteorological information system, including upgrading of 50 hydrometric stations, better flood protection procedures, and establishment of a groundwater monitoring system.

The credit has been granted through the International Development Association , the World Bank’s concessionary lending arm , with a 10 year grace period and a maturity of 20 years.

The UN affiliated lending agency further said of the 71.66 million USD total project cost, the Sri Lankan government is contributing 6.33 million USD.

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