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Japanese Ambassador to Sri Lanka, Kenichi Suguma and Deputy Secretary of the Treasury Mrs. G.D.C. Ekanayake pictured at the signing of the loan agreement while State Minister of National Policy and Economic Affairs, Niroshan Perera among others look on

The Japan International Cooperation Agency (JICA) last week announced the grant of a loan of Rs.46.6 billion or approximately Yen 33,137 million, to enable the government to maintain its financial stability, continue its development agenda within the next five years and achieve its development goals, the Finance Ministry said.

“Yen 10,000 million out of the total loan has been granted as development policy loans. Under this tranche, the background will be set up to improve the management sector of the public sector and the competitiveness of the private sector to build financial stability to implement the development agenda,” a statement said.

In addition, Rs.32 billion will be made available to implement the second phase of the Anuradhapura North Water Supply Project.  This project will be implemented to prevent the current fast spreading kidney disease in the North Central Province. The project will cover the divisional secretariats of Padaviya, Kebithigollewa, Horowpothana and Kahatagasdigiliya.

Meanwhile, the Urban Development Authority and JICA will also commence a technical cooperation project to formulate the urban development vision and detailed urban plans towards the objective of enhancing the value and attractiveness of Kandy as a historic and touristic city, and realizing its unique socio-economic potential while preserving its ancient heritage sacred to Buddhists around the world.

Through the project, JICA will support UDA to prepare the urban development vision for the Kandy metropolitan area, detailed urban plans including urban design guidelines and regulations to protect and sustain the heritage city area and recommend sustainable systems and strategic investment proposal to implement the development plans.