Rs. 73 bn ADB, JFPR loan for Food Security and Livelihood Project | Daily News

Rs. 73 bn ADB, JFPR loan for Food Security and Livelihood Project

The Government will borrow Rs. 73 bn (USD 200 million) from the Asian Development Bank (ADB) to finance the implementation of Food Security and Livelihood Recovery Emergency Assistance Project which is expected to ensure access to food and protect livelihoods of the poor and vulnerable, especially women and children.

The loan of USD 200 million will be provided from the ADB’s Ordinary Capital Resources. In addition, the Japan Fund for Prosperous and Resilient Asia and the Pacific (JFPR) will provide a grant of USD 03 million through the ADB to finance the project activities. The total project cost is estimated as USD 203.36 million, out of which USD 0.36 million has been agreed to be borne by the Government.

The project will also upgrade Information Technology systems and digital tools for the Samurdhi programme and agriculture and agrarian development to enhance cash grant beneficiary selection, verification, monitoring and communication and improve financial, advisory and other services for low-income families and farmers.The project is scheduled to be completed by February 29, 2024.

The relevant Loan Agreement for the Food Security and Livelihood Recovery Emergency Assistance Project amounting to USD 200 million and the Grant Agreement amounting to USD 3 million was signed by Finance, Economic Stabilization and National Policies Ministry Secretary, Mahinda Siriwardana and ADB Resident Mission Country Director, Chen Chen, on September 9, 2022 on behalf of the Government of Sri Lanka and ADB respectively.


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