LOC12:55
09:55 GMT
KUWAIT, July 17 (KUNA) -- Kuwait Fund for Arab Economic Development (KFAED)
and Sri Lanka signed on Tuesday in Colombo a loan agreement worth two million
Kuwaiti dinars (KD), (around USD 6.8 million), to finance the first phase of
the South Eastern University of Sri Lanka development project.
Sri Lanka was represented by the Secretary of the Ministry of Finance and
Planning Dr. P.B. Jayasundera while the Fund was represented by its Deputy
Director General Hesham Al-Waqayan.
A press release by the fund said, the development project aims to support
the social development and economic growth of Sri Lanka by improving the
quality of Degree Courses at the said University to reflect regional and
national needs and at the same time increase student numbers, by developing
the necessary academic infrastructure and introducing new demand driven degree
programmes.
The Project consists of construction works that include civil engineering
and electro-mechanical works for a number of buildings and facilities,
external works which include site clearance, road works, electrical
installations and sub stations, water supply, waste water and sewage system,
landscaping, flood defense and other related works, supply and installation of
furniture and educational and information technology equipment, it added.
The development plan also includes curriculum development and capacity
building and training for the academic staff, and consulting services for
detailed design, preparation of tender documents and assistance in analysis of
tenders and supervision of construction.
With this loan, the Fund has offered 10 loans to Sri Lanka to finance
various sectors totaling about KD 39.7 million, around USD 135 million. (end)
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