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Press briefing of Cabinet Decision taken on 2015-05-27
Obtaining a Loan for the Early Childhood Development Project

- The development strategies of the government have identified well the importance of investing funds more for the welfare of the children in early childhood and accordingly, the objective of the government is to ensure safe and appropriate environment for the children between the age range of years 0?5 through improving the quality of services rendered, and provided them with proper nutrition, protection and access for the early childhood development activities. The 'Early Childhood Development Project 2015-2020' has been proposed with a view to achieving the said goals. The International Development Association of the World Bank has agreed to provide the necessary financial contribution towards this and accordingly the proposal made by Hon. Ravi Karunanayake, the Minister of Finance, to conduct negotiations with the said institution and to enter into a financial agreement with the said institute, to borrow a credit of Special Drawing Rights equivalent to US$ 50 million, was approved by the Cabinet.