The Asian Infrastructure Improvement Bank (AIIB) will grant Sri Lanka US$ 700,000 (Over Rs. 105 million) to expedite the Metro Colombo Solid Waste Management Project.
According to a cabinet statement, the Metro Colombo Solid Waste Management Project has been approved by the Cabinet and under the project, the implementation of the sanitary Landfill at Aruwakkalu, Puttalam has been expedited.
The World Bank and the Asian Infrastructure Investment Bank (AIIB) will grant a credit facility of US$115 million and the Government of Sri Lanka will incur an expenditure of US$ 44 million, for the project.
In addition, the AIIB has expressed its willingness to donate US$ 700,000 to implement the initial activities required to expedite the project.
Accordingly, the proposal made by Prime Minister Ranil Wickremesinghe, in his capacity as the Minister of National Policies and Economic Affairs, to enter into a Grant Agreement between the Government of Sri Lanka and the Asian Infrastructure Investment Bank, to obtain the financial grant, was approved by the Cabinet.
The Metro Colombo Solid Waste Management Project will see the construction of a Sanitary Land Fill in Aruwakkalu in the Puttalam District and to transport solid waste by train from a transfer station at Meethotamulla.
The Railway Department has already completed the design work of rail transportation system and the preparation of specifications for locomotives and rolling stocks. The Environmental Impact Assessment (EIA) of the Project has also been completed. The total cost of the Project is US $107 million.