Press briefing of Cabinet Decision taken on 2019-03-26

Obtaining financial assistance for the Construction of the High Altitude Sports Complex in Nuwara Eliya

- High altitude training provides the athletes to improve the lung capacity together with a sustainable level of endurance and physical fitness. It has been found that this promotes enhanced competitiveness to come out with their skills and achieve success at international level. A high altitude sports training centre has to be constructed at a height of between 1,500 m to 3,500 m from the mean sea level. Presently, such a training centre which is the highest in Asia, has been constructed in China at a height of 1,899 m. Accordingly, it has been planned to construct a training complex at an identified location in Nuwara Eliya at a height of 1,895 m making use of the natural setting of Sri Lanka. In this respect, the Export Financial Institute of the United Kingdom has agreed to provide the necessary funds for the purpose under an export credit facility. The People's Bank has agreed to finance the balance part of the contract price, not covered by the export credit facility and accordingly, the proposal made by Hon. Mangala Samaraweera, the Minister of Finance to conduct negotiations with the said bank, was approved by the Cabinet.