China funds mega housing project

The Government yesterday entered into an agreement with the Chinese Government to initiate a mega housing project in the country. Over 130,000 housing units will be built island wide under this project which is fully funded by the Chinese Government.

China has extended a concessionary loan of Rs 120 billion for the implementation of this project. Construction and Engineering Services Minister Rajitha Senaratne and Vice President of the International Economic and Technology Cooperation of China signed the agreements on behalf of two countries. Several housing schemes will be set up in the Colombo city limits for the benefit of low income families. The families in the middle and upper middle class will also be benefit by this project.

He said the families of war heroes and disabled soldiers will also get houses under this project. The Government expects to provide housing facilities to the public servants, journalists and professionals too, the Ministry sources said.