WB approves US$ 75.6 million

The World Bank has approved a 75.6 million US dollar support package to Sri Lanka for the reconstruction of houses in North and East.
A World Bank press release says this is to upgrade statistical capacity and auditing standards, and promotion of equitable access to basic and secondary education.

Sri Lanka’s strong economic growth has led to rapid poverty reduction in the past five years. Correspondingly, inequality among provinces, visible in the previous decade has also declined. Remarkably, the reported decline in poverty occurred in regions outside the Western Province, closing the large gap seen in 2002 between the Western Province and the rest of the country, said the World Bank.

World Bank Country Director Naoko Ishii says the support will help address several pressing needs in Sri Lanka.

Out of the grant 43 million US dollars will be spent for the North East Housing Reconstruction Program to reconstruct 13,615 houses in the North and East.

The rest of 22.6 million US dollars for the Public Sector Capacity Building Project aims to improve public administration and financial management by strengthening and modernizing key public sector institutions.