Press briefing of Cabinet Decision taken on 2016-03-16

Eco-systems Conservation and Management Project

- The proposal made by H.E. the President, in his capacity as the Minister of Mahaweli Development and Environment, for the implementation of the Eco-systems Conservation and Management Project during the period of 2016 to 2021, with a view to improving the management of Eco-systems in identified areas, to formulate mechanisms to create co-existence between the elephants and humans and to provide benefits to the people through the sustainable use and protection of natural resources, by developing the capacity of the government institutions as well as of the people has already been approved by the Cabinet. The International Development Association (IDA) of the World Bank has shown its interest to provide funds for the said project and the World Bank has agreed to provide a loan facility equivalent to US$ 45 million. Accordingly, the proposal made by Hon. Ranil Wickremasinghe, the Prime Minister, in his capacity as the Minister of National Policies and Economic Affairs, to conduct loan negotiations with the IDA for the implementation of this project and to enter into a relevant Financing Agreement, was approved by the Cabinet.