WB Cancels $30 Million Loan
Although Sri Lanka is ranked as a global biodiversity hotspot is observed that the country is facing severe degradation of ecosystems and the biodiversity they host. According to the United Nations MDG Monitor 2007, Sri Lanka is to achieve MDG 7, where a number of changes were made in the price. the World Bank together with the Ministry of Wildlife has designed a U.S. $ 30 million project called Ecosystem Management and Conservation Project (Escamp), which could address most of these environmental problems and also to help the country achieve the MDG 7. It is learned that preparations for this project began in mid-2009, and the necessary approvals from the relevant authorities for a donor-funded project were obtained accordingly.
Subsequently, the World Bank, the government has to negotiate 21 to 22 February 2011. “However, three days before the proposed negotiations, the Ministry of Finance informed us that this project did not meet the development priorities of the government to appeal and suggested modifications to the project design and inclusion of additional activities, “The office responds to a Mirror World Business e-mail said. It also said that the activities proposed by the Ministry of Finance could be within the development priorities of the government, but the inclusion of such activities under this project, the project from the environmental conservation project has been transformed into a rural infrastructure development project.