Press briefing of Cabinet Decision taken on 2011-05-25

Metro Colombo Urban Development Project (Project 01)

- the overall objective of this project is to improve planning and delivery of priority infrastructure and local services in the Metro Colombo Region. This project will -

* reduce the occurrence of floods affecting the people and assets in the region;
* implement medium and small scale infrastructure projects benefiting the people in the region; and
* enhance the institutional capacity of local authorities in the region.

The project will be fully funded by the World Bank and the total cost is expected to be Rs.16650 million (US$ 150 million). The Government of Sri Lanka will bear the initial cost for the establishment of the Project Management Unit costing Rs.50.0 million. The project is to be commenced in the latter part of 2011 and is expected to be completed within 03 years. The proposal made by H.E. the President to proceed with the project was approved by the Cabinet.