ADB Approves 100 Million USD Loan To Sri Lanka
Date
9/11/2024 8:45:12 AM
(MENAFN- IANS) Manila, Sep 11 (IANS) The Asian Development bank (ADB) on Wednesday said it has approved a policy-based loan of 100 million US dollars to support Sri Lanka's water supply and sanitation sector reforms, which are designed to enhance the country's resilience to climate change impacts and promote long-term sustainability.
The ADB said the Water Supply and Sanitation Reform Programme, composed of two subprogrammes of 100 million dollars each, will contribute to a more resilient and sustainable delivery of water supply and sanitation services, Xinhua news agency reported.
Subprogramme 1 will establish policies and strategies nationally and for the National Water Supply and Drainage Board, while Subprogramme 2 will support the implementation of reform actions and guidelines.
The ADB said Sri Lanka's water resources management has been grappling with a host of challenges.
These include unbalanced water allocation between agriculture and drinking water, inadequate consideration of climate change in planning and development, the involvement of multiple agencies at national and regional levels, and the adverse effects of unplanned land use and deforestation.
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