Japan to grant Rs. 819 million soft loan for rehabilitation work
The Japan Bank for International Co-operation (JBIC) has offered a soft loan of Rs. 819 million (Yen 1057 billion) to rehabilitate 10 irrigation systems and support community development and related social infrastructure in North-East.
The loan comes under the North-East Component (NEC) of the Japanese funded Pro-poor Economic Advancement and Community Enhancement (PEACE) project.
The implementation of the NEC is estimated to cost a total of Rs. 889 million.
The MoU on the implementation of the NEC was signed last month.
The Loan Agreement for the PEACE Project of which the NEC is an integral part was signed on March 26 this year under the 35th ODA Loan Package between the Government and the (JBIC) an organisation responsible for implementing Japan's economic cooperation.
'The objective of the PEACE project is to reduce poverty, increase productivity of farmers and to achieve sustainable agricultural development through such means as rehabilitation of irrigation facilities and income generating activities, in North West, North Central, and Central Provinces.
This will also comprise the North and East of Sri Lanka.
Of the total estimated cost of Rs.6.212 billion (Yen 8.013 billion), JBIC agreed to lend an amount not exceeding Rs. 4.695 billion (Yen 6.010 billion). The executing agency of the project is Ministry of Irrigation and Water Management (MIWM),a JBIC spokesman in Colombo said.
The NEC will be implemented with the active participation of the North-East Provincial Council and involve various stakeholders in the area, the spokesman explained.
Nantri - Tamilaustralian.net
Nantri - dailymirror
The Japan Bank for International Co-operation (JBIC) has offered a soft loan of Rs. 819 million (Yen 1057 billion) to rehabilitate 10 irrigation systems and support community development and related social infrastructure in North-East.
The loan comes under the North-East Component (NEC) of the Japanese funded Pro-poor Economic Advancement and Community Enhancement (PEACE) project.
The implementation of the NEC is estimated to cost a total of Rs. 889 million.
The MoU on the implementation of the NEC was signed last month.
The Loan Agreement for the PEACE Project of which the NEC is an integral part was signed on March 26 this year under the 35th ODA Loan Package between the Government and the (JBIC) an organisation responsible for implementing Japan's economic cooperation.
'The objective of the PEACE project is to reduce poverty, increase productivity of farmers and to achieve sustainable agricultural development through such means as rehabilitation of irrigation facilities and income generating activities, in North West, North Central, and Central Provinces.
This will also comprise the North and East of Sri Lanka.
Of the total estimated cost of Rs.6.212 billion (Yen 8.013 billion), JBIC agreed to lend an amount not exceeding Rs. 4.695 billion (Yen 6.010 billion). The executing agency of the project is Ministry of Irrigation and Water Management (MIWM),a JBIC spokesman in Colombo said.
The NEC will be implemented with the active participation of the North-East Provincial Council and involve various stakeholders in the area, the spokesman explained.
Nantri - Tamilaustralian.net
Nantri - dailymirror
posted by Chandravathanaa @ 10:50 pm
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