Press briefing of Cabinet Decision taken on 2011-01-25

Development Project for the South Eastern University of Sri Lanka - Phase I - B

- The Kuwait Fund for Arab Economic Development has agreed to provide a loan of Kuwait Dinars 3 million (approximately US $10.5 million to finance the implementation of the above project. The objective of this project is to develop essential academic infrastructure and introduce new demand driven degree programmes to meet the national needs of the country. The project consists of 2 phases, namely, phase I - A and Phase 1 - B costing US$ 7.0 million and 12.0 million respectively. Phase 1 - A is now being implemented and of the total cost of phase 1 - B, US $10.5 million will be financed by the Kuwait fund and the balance of US $1.5 million will be borne by the Government of Sri Lanka. The proceeds of the loan will be utilized to complete construction of buildings for the Faculties, Student hostels and for the development of infrastructure facilities such as roads, water supply, electricity, sewerage and waste management system and supply of furniture and educational equipment.