Press briefing of Cabinet Decision taken on 2021-08-30

Climate Resilience Multi-Phase Programmatic Approach (CresMPA)

- Approval of the Cabinet was granted at its meeting held on 2021‑05‑10 to implement the relevant projects within the purview as amended under the Climate Resilience Multi-Phase Programmatic Approach (CresMPA). Accordingly, negotiations have been conducted with the relevant stakeholders to secure funds required for the implementation of the project at the total estimated cost of US$ 434 million under 3 phases. As such, the proposal made by the Minister of Finance, to enter into an Agreement with the IBRD of the World Bank Group to secure funds of US$ 92 million for the Phase 1 of the said programme, was approved by the Cabinet.