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ADB to assist people displaced by war

The Asian Development Bank (ADB) approved on October 16, 2001 a US$25 million loan to help people affected by Sri Lanka's 18-year conflict in the country's Northern and Eastern provinces a news release from the ADB said.

It said the ADB will support a project to provide housing and other basic services for those displaced by the conflict, improve health and education facilities, and re-establish agricultural and fishing activities as a means of livelihood for people currently dependent on welfare payments.

"The North East Community Restoration and Development Project will help communities affected by the conflict, particularly a significant proportion of the approximately 800,000 people who have been forced to leave their homes because of the conflict. It will also help others who have lost their livelihoods and their access to basic health and education facilities. The project will provide training and employment, and raise health and education standards in areas where between 60 and 90 per cent of the people live below the poverty line. It will be implemented in close coordination with other development projects and programs in the area.

"The ADB loan will cover more than 60 per cent of the total project cost of US$40 million. The Government will provide US$7 million and the beneficiaries will contribute another US$1 million in kind. The rest of the funds will be provided by the OPEC Fund, Germany, and the Netherlands.

"The ADB loan will have a term of 32 years, including a grace period of eight years. It will carry an interest rate of 1 per cent during the grace period and 1.5 percent thereafter.

"The project is expected to end in 2006".

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Copyright 2001 The Associated Newspapers of Ceylon Ltd.
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