EDCFTO PROVIDE RS.7.5 B FOR DEVELOPMENT

The Economic Development Cooperation Fund (EDCF) of the Export-Import Bank (Exim Bank) of Korea has agreed to provide financial assistance of Rs.7.5 billion (US$ 26.5 million) in order to accelerate the development process of Sri Lanka.

Rs. 3.3 billion out of the total Rs. 7.5 billion will be used for the establishment of the Colombo Central Vocational Training Centre, the Gampaha College of Technology and for the Construction of a Solid Waste Disposal Facility Project which has been formulated in line with the development policy framework of the government, a spokesman of the Fi- nance and Planning Ministry said. The objective of the project is to establish two vocational training centres with modern technological facilities in the Gampaha and Colombo Districts to ensure providing formal professional education to students with the latest technical know-how in the selected areas such as electronics, motor mechanism, tinkering, painting, welding and electric wiring with particular attention to the manufacturing sector.

This project is also intended to empower a labour force with necessary knowledge and skills to meet the demands of both local and international markets and thereby increase job opportunities which will ultimately contrib- ute to the economic development of the country. The project will be implemented by the Ministry of Youth Affairs and Skills Development, the spokesman added.Realising the importance of a comprehensive waste management system in controlling deteriorated environment conditions around roadsides, swamps, and lowlands, the Government is implementing the “Pilisaru” integrated sustainable waste management programme to reinforce the waste management capacity of provincial Governments and other environment related organisations.