Press briefing of Cabinet Decision taken on 2018-02-20

Securing of funds from the Asian Infrastructure Investment Bank (AIIB) for the implementation of the Sri Lanka Emergency Solid Waste Management Project

- The Sri Lanka Emergency Solid Waste Management Project has been planned, with the objective of providing sustainable solutions to the problem of solid waste disposal and the construction of a solid waste disposal facility at the Aruwakkalu area in Puttalam. The estimated cost of the said project implemented by the Ministry of Megapolis and Western Development and the Ministry of Provincial Councils and Local Government is US$ 274 million.

Out of the cost, a sum of US$ 115 million, is to be obtained from the International Bank for Reconstruction and Development of the World Bank and the Asian Infrastructure Development Bank has also agreed to provide US$ 115 million. The balance of US$ 44 million will be borne by the Government of Sri Lanka. 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 Asian Infrastructure Investment Bank to obtain the loan amount of US$ 115 million agreed to be provided by the said Bank was approved by the Cabinet.