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Sri Lanka : WORLD BANK to allocate fund to SL to prevent flooding in COLOMBO

July 8, 2014

The World Bank declared that it will allocate grant to Sri Lanka US$ 213 million for preventing the flooding in the country's economic capital of Colombo.

The investment will also help to bolster the country s defenses against the natural disaster to protect the livelihoods of city's 2.5 million people and the economic health of the entire country. The metropolitan city faces raised risk of devastating floods when it rains and severe flooding in 2010 exposed the city's vulnerability to shifting patterns of torrential rain, which is connected to climate change.

According to bank, the cost of the 2010 floods in the city is quietly estimated at US$50 million and it could have been much bad. The Bank stated that it is an important public investment.

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Source: TendersInfo (India)

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