The World Bank reiterated its continued assistance to Sri lanka when World Bank Country Director for Sri Lanka and the Maldives Françoise Clottes met with Finance Minister Ravi Karunanayaka.
The World Bank signed a 55 million dollar loan agreement with Sri Lanka for the Strategic Cities Development Project to improve urban services, preserve cultural and environment assets, and improve livability in Jaffna, adding the city to an existing project to develop Galle and Kandy.
Secretary to the Treasury, Ministry of Finance and World Bank Country Director for Sri Lanka and the Maldives Françoise Clottes signed the credit agreement for the project today at the Ministry.
The credit will add development of rapidly urbanizing Jaffna to the existing Strategic Cities Development Project, which is supported by the World Bank and was originally approved in 2014.
Guided by consultations with Jaffna’s citizens, the project will attempt to improve the road network and rehabilitate the drainage system while preserving the city’s ponds, which have played an important role in flood management and which could be key to climate change adaptation.
In addition, the project aims to preserve cultural heritage assets such as public spaces and parks as well as encouraging cycling.