The Government of Sri Lanka and the Asian Development Bank (ADB) have officially signed a special loan agreement of US$ 200 million to be provided by the ADB to rebuild the damage caused by Cyclone Ditva that recently hit the country and to improve the livelihoods of the affected people.
The loan agreement was signed on the 18th at the Treasury premises in Colombo, as announced by the Ministry of Finance, Planning and Economic Development. The agreement was signed on behalf of the Government of Sri Lanka by Dr. Harshana Suriyapperuma, Secretary to the Ministry of Finance, Planning and Economic Development, and on behalf of the Asian Development Bank, Shannon Cowlin, Country Director for Sri Lanka. The entire reconstruction project is scheduled to be implemented in the country between 2026 and 2030.
The primary objective of this project is to rehabilitate and rebuild the country’s road network, which was severely damaged by Cyclone Ditva, to make it resilient to climate change. Under this, the Ministry of Transport, Highways and Urban Development will act as the chief executive agency, and the Road Development Authority has been entrusted with the responsibility of rehabilitating road infrastructure.
In addition to road development, the Department of Irrigation and the Sri Lanka Mahaweli Authority are to jointly carry out the rapid restoration of the country’s irrigation systems damaged by the storm. The Department of Agrarian Development will also intervene to improve the agricultural livelihoods of families affected by the cyclone, and the provision of housing reconstruction assistance and grants to families who have lost or partially damaged their homes.
Source: Daily News
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