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World Bank provides 125 million US Dollars to empower the farmers

ITN News Editor
By ITN News Editor April 12, 2019 19:02

World Bank provides 125 million US Dollars to empower the farmers

The International Development Agency of the World Bank has expressed willingness to provide Sri Lanka a loan of 125 million US. Dollars to improve climate resilience and agriculture productivity for small farmers and support priority infrastructure through public-private partnerships.
Hartwig Schafer, World Bank Vice President for the South Asia Region and Dr. R.H.S. Samaratunga, Secretary, Ministry of Finance signed the agreement on behalf of the World Bank and the Government of Sri Lanka respectively. The signing took place during the World Bank Group and IMF Spring Meetings 2019 in Washington.
The new project will improve the resilience and productivity of agriculture for more than 470,000 small farmers in 6 provinces in the dry zone of the country and a 25 million US Dollars loan for the Framework Development and Infrastructure Financing to Support Public-Private Partnerships Project, which will help the Government of Sri Lanka to develop a platform to attract and sustain investments required to fulfill its future development priorities.
The Climate Smart Irrigated Agriculture Project will be implemented by the Ministry of Agriculture, Rural Economic Affairs, Livestock Development, Irrigation and Fisheries & Aquatic Resources along with the six Provincial Councils participating in the project.
The key principle of the Framework Development and Infrastructure Financing to Support Public-Private Partnerships Project is to encourage the private sector to invest in priority projects selected through competitive procurement processes to ensure value for money. The project will be implemented by the Ministry of Finance and Mass Media together with the National Agency for Public Private Partnership.

ITN News Editor
By ITN News Editor April 12, 2019 19:02

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