IDA GIVES 18.6 MLN DLR LOAN TO SRI LANKA
The International Development
Association (IDA) is lending 18.6 mln dlrs to Sri Lanka for
agricultural research and development, the World Bank said in a
statement.
    The loan is part of a 26.5 mln dlr project to improve
production of commodities, mainly rice, and raise farmer
incomes. Other financing for the project will come from Sri
Lanka (7.1 mln dlrs) and West Germany (800,000 dlrs).
    The IDA credit is interest-free and for 50 years. It
includes a 10-year grace period but has annual charges of 0.5
pct on the undisbursed balance, and 0.75 pct on the disbursed
balance, the Bank statement said.
    The project envisages the creation of a Council of
Agricultural Research to formulate a national agricultural
strategy and introduce a contract research programme to finance
research activities, the Bank said.
    The Washington-based IDA is the World Bank's affiliate for
concessionary lending.
 REUTER
