US$ 587 m for development projects

The total disbursements recorded in development projects in Sri Lanka from January to April 2013 was US $ 587.76 million (Rs.74,434.54 million). Of this total, project loans accounted for US $ 580.97 million (Rs. 73,573.14 million) and grants accounted for US $ 6.79 million (Rs.861.40 million).

In terms of project loans, this is 99 percent achievement of the estimated disbursement target of US $ 582.66 million, Finance Ministry data reveal.

Out of the total disbursements recorded during the period January to April, 28 per cent or Rs. 20,960 million was reported under the development projects funded by China and 15 per cent or Rs. 11,335 million was from the Japanese funded projects.

The total disbursements recorded in the projects financed by multilateral agencies such as the World Bank, Asian Development Bank and IFAD was 27 per cent or Rs. 20,369 million.

Out of the total disbursements recorded during the period January to April 2013, 60 per cent was disbursed for the construction and rehabilitation of roads and bridges and 9 per cent, 7 per cent and 6 per cent were disbursed for the power sector development, water supply and irrigation projects respectively.