Having recognized the importance and urgency of implementation of Kirama Katuwana Water Supply Project and project for Augmentation of Water Pipelines along with the Orugodawatta Ambatale Road Development Project, the Government has secured funding arrangements with the UniCredit Bank of Austria and People's Bank, The MInistry of Finance said.
Accordingly, the UniCredit Bank has agreed to provide Euro 61 million (approximately LKR 11,285 million) in credit facilities for the implementation of the above two projects.
Under the Kirama Katuwana Water Supply Project, it is planned to construct a 3500m3/day water treatment plant and other necessary infrastructure to cater to the drinking water requirement of around 31,000 people living in Katuwana and Walasmulla Divisional Secretariat areas including semi urban communities in Kirama and Katuwana townships. The Austrian Government through the UniCredit Bank of Austria provides an interest free soft loan of Euro 10.48 million to finance this project.
The objective of the Augmentation of Water Pipelines along with the Orugodawatta Ambatale Road Development Project is to shift the existing more than 100 years old water utility pipe network laid along with the Orugodawatta – Ambathale road section into the utility corridor of the road which is being constructed. An Export Credit Facility amounting to Euro 50.6 million will be provided by the UniCredit Bank of Austria to the National Water Supply and Drainage Board to finance 85% of the project cost.
The People’s Bank has agreed to provide the balance 15% of the project cost (approximately LKR 1,410 million).
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