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Treasury Secretary Dr. Harshana Suriyapperuma (right) exchanges the agreement signed with ADB Sri Lanka Residence Mission Country Director Shannon Cowlin
The Government yesterday signed a $ 100 million policy-based loan with the Asian Development Bank to fund the second phase of a water sector reform program, with the money routed to the Budget against agreed policy actions rather than to pipelines or plants. Treasury Secretary Dr. Harshana Suriyapperuma signed for the Government and ADB Sri Lanka Residence Mission Country Director Shannon Cowlin for the lender at the General Treasury in Colombo. The package comprises a $ 50 million concessional loan and $ 50 million from the ADB’s ordinary capital resources, under the Water Supply and Sanitation Reform Program, Subprogram 2. The Finance, Planning and Economic Development Ministry said the program backs reforms to water resources governance, drinking water safety, sanitation management, conservation, tariff and financial sustainability, and private sector participation and climate finance mobilisation. The program is the first policy-based lending operation in the water sector. Subprogram 1, also $ 100 million, closed in 2024 having set the policy, regulatory and institutional foundations. The second phase is meant to implement and deepen them.
The Housing, Construction and Water Supply is the executing agency and also an implementing agency, alongside the Prime Minister’s Office and the National Water Supply and Drainage Board (NWSDB).
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