Press briefing of Cabinet Decision taken on 2011-07-27

Financial Assistance from KfW IPEX-Bank GmbH and DFCC Bank of Germany for Rehabilitation of Ambatale Water Treatment Plant and Pumping Stations Energy Conservation purpose

- negotiations have been concluded with the above Bank in Germany and the DFCC Bank to enter into two loan agreements to finance the project for the rehabilitation of Ambatale Water Treatment Plant and Pumping Stations for the purpose of energy conservation. The German Bank has agreed to provide Euro 26.33 million for the purpose and the DFCC Bank has agreed to provide the balance 15% of the contract sum amounting to Euro 4.47 million. The proposal made by H.E. the President, to enter into the said loan agreements, was approved by the Cabinet.