Loading grant details…
China Eximbank to loan US$475 million for Maduru Oya Right Bank Development in Sri Lanka
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of Sri Lanka |
| Country | Sri Lanka |
| Start Date | Jan 01, 2017 |
| End Date | Dec 28, 2030 |
| Duration | 5,109 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 53620 |
Grant Description
China Eximbank to loan US$475 million for Maduru Oya Right Bank Development in Sri Lanka Based on a 2017 Performance Report by Sri Lanka's Department of External Resources, the China Exim Bank is expected to finalize a concessional loan of US$475 million for the Maduru Oya Right Bank Development Project in 2018 It was included in a Memorandum of Understanding signed between China and Sri Lanka on April 7th, 2016 The Maduru Oya project will aim to develop drinking water and irrigation for the districts of Pollonnaruwa, and it was approved by the Cabinet in September 2016 to be implemented during the period of 2017-2020 With this project, 39,000 hectares will be newly developed.
The sluice will be raised by two cubic meters.
The additional water will also increase by a capacity of 229 cubic meters, and it will directly benefit 12.000 farming families.
The total estimated cost is 6.969 trillion Sri Lanka rupees On October 26, 2016, China CAMC Engineering Co., Ltd. (CAMCE) signed the contract of Maduru Oya Right Bank Development Project with the Sri Lanka Ministry of Mahaweli Development and Environment in Colombo, the capital of Sri Lanka. Chairman of CAMCE, Luo Yan, and Mr.
Udaya R. Senevirathne, Secretary of Ministry of Mahaweli Development and Environment, signed the contract. The construction period will be 48 months.
According to a media report published on May 17, 2017, President Maithripala Sirisena said that the development work of the Maduru Oya Right Bank Project will be implemented in 2017 However, there is no new news on whether the implementation was completed.
According to the 2018 Performance Report of Sri Lanka's Ministry of Finance, Department of External Resources, the loan for the Maduru Oya Right Bank Development Project is identified to be included in the pipeline for financing from EXIM Bank of China However, no financial agreement was found. Also, the project is not mentioned in any annual reports of China Eximbank from the year 2016 to 2020.
The current status of this project is Pipeline: Pledge.
Staff Comments
The Chinese title of this project is '斯里兰卡玛度鲁河右岸发展项目'. This project is also referred to as 'Maduru Oya Southern Bank' in some sources.
Sources & References
- China gets huge projects in Polonnaruwa District
- Development of Maduru Oya right bank this year – President
- Projects endanger remaining forest cover
- Joint Statement between the People’s Republic of China and the Democratic Socialist Republic of Sri Lanka at the conclusion of the Official Visit of Prime Minister Ranil Wickremesinghe
- CAMCE SIGNED THE CONTRACT OF SRI LANKA MADURU OYA RIGHT BANK DEVELOPMENT PROJECT
- A look back at China's infrastructure projects aiding Sri Lanka
- Performance Report 2018
- Press briefing of Cabinet Decision taken on 2016-09-06
- Maduru Oya right bank development takes place this year – President
- 中国南南合作发展报告2017 中国与亚洲发展中国家之间的贸易 投资合作
- 中工国际(002051)基本面分析
- 中工国际工程股份有限公司重大合同公告
- Performance Report 2017 Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Government of Sri Lanka
Interested in applying for this grant?
Complete our application form to express your interest and we'll guide you through the process.
Apply for This GrantQuick Summary
Related Grants
