Press briefing of Cabinet Decision taken on 2011-03-30

Emergency Financial Assistance of US $ 38 million from the International Development Association of the World Bank for the Community Livelihoods in Conflict Affected Areas Project (Re-awakening Project)

- On a proposal made by H.E. the President, Cabinet approval was granted to conduct negotiations with the International Development Association (IDA) of the World Bank and also to enter into an agreement with the IDA to obtain a loan of US$ 38 million as additional financial assistance for the ongoing community livelihood development in the conflict affected areas project to support emergency rehabilitation and restoration of irrigation schemes and rural roads affected due to the recent floods. This credit facility of the IDA is interest free and the project is scheduled to be completed in 2013.