Accordingly, UniCredit Bank of Austria has agreed to provide Euro 61 million (approximately SLR 11,285 million) Credit Facilities for the implementation of the above two projects.
Under the Kirama Katuwana Water Supply Project, it is planned to construct a 3500m3/day water treatment plant and other necessary infrastructure to cater to the drinking water requirement of around 31,000 people living in Katuwana and Walasmulla Divisional Secretariat areas including semi urban communities in Kirama and Katuwana townships. The Austrian Government through the UniCredit Bank of Austria provides an interest free soft loan of Euro 10.48 million to finance this project.
The objective of the Augmentation of Water Pipelines along with the Orugodawatta Ambatale Road Development Project is to shift the existing more than 100 years old water utility pipe network laid along with the Orugodawatta Ambathale road section into the utility corridor of the road which is being constructed. An Export Credit Facility amounting to Euro 50.6 million will be provided by the UniCredit Bank of Austria to the National Water Supply and Drainage Board to finance 85% of the project cost.
The Peoples Bank has agreed to provide the balance 15% of the project cost (approximately SLR 1,410 million).
The Loan Signing ceremony of the above three Loan Agreements with the UniCredit Bank and the Peoples Bank was held at the Ministry of Finance and Mass Media in the presence of the Minister of City Planning and Water Supply Mr. Rauff Hakeem. Secretary to the Ministry of Finance and Mass Media Dr. R.H.S. Samaratunga, Chairman of the National Water Supply & Drainage Board Mr. A. Ansar, a representative from the UniCredit Bank of Austria Mr.Ried Reinhard, and the Head of Corporate Banking of the Peoples Bank Mrs Aruni Gunathillake signed these agreements on behalf of their respective organizations on 8th March 2018.