Press briefing of Cabinet Decision taken on 2011-12-21

A Credit of United States Dollars 11 million (approximately Special Drawing Rights 7 million ) from the International Development Association of the World Bank as an Additional Financing for E- Sri Lanka Development Project

- Cabinet approval has already been granted to enter into a Loan Agreement with the International Development Association (IDA) of the World Bank to borrow US$ 53 million for the implementation of the above project. The World Bank has agreed to provide a further amount of US$ 11 million as additional financing for the development of this project and the proposal made by H.E. the President in his capacity as the Minister of Finance and Planning, to conduct loan negotiations with IDA of the World Bank and enter into a Financing Arrangement for the purpose, was approved by the Cabinet.