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Press briefing of Cabinet Decision taken on 2014-02-28
A Credit of United States Dollars 147 million from the International Development Association (IDA) of World Bank for the Strategic Cities Development Project

- the Economic Policy Framework of the Government envisages a well planned and connected network of cities and townships throughout the country by 2020. The Government has identified Colombo, Hambantota, Trincomalee and Jaffna as Large Cities to be developed under this programme. Nine other cities covering the entire country will also be developed as Urban Growth Centres. The IDA of the World Bank has agreed to provide a credit of US $147 million for the above project. The proposal made by H.E. the President, in his capacity of the Minister of Finance and Planning, to conduct loan negotiations and enter into a Financial Agreement with the IDA, was approved by the Cabinet.