Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Sri Lanka
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Asian Infrastructure Investment Bank (AIIB)
Status: Proposed
Bank Risk Rating: A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2018-03-01
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Democratic Socialist Republic of Sri Lanka
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Climate and Environment
  • Infrastructure
  • Water and Sanitation
Investment Amount (USD): $ 77.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD): $ 155.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

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Primary Source

Original disclosure @ AIIB website
Updated in EWS: 2017-11-08
Sri Lanka: Climate Resilience Improvement Project - Phase II
AIIB-000036

Project Description
According to AIIB documents, the development objective of the CRIP is to improve resilience to extreme climate events, and to strengthen the Government’s capacity to respond effectively to natural disasters. The Project aims to: (i) reduce the flood risks to the people, personal assets and public infrastructure in the priority river basin(s), Kelani and possibly Mundeni Aru; and (ii) enhance the capacity of the Department of Meteorology (DoM), Irrigation Department (ID), Disaster Management Center (DMC), and the National Building Research Organization (NBRO) to provide effective and efficient forecasting and early warning of hydro-meteorological risks to minimize disaster losses from extreme events in the future. The Project tentatively consists of the following three components: Component 1: Flood Risk Mitigation Investments This component will reduce flood risks for the people, personal assets and public infrastructure in the priority river basin(s), Kelani and possibly Mundeni Aru. The investments include: (i) construction and/or rehabilitation of flood embankments; upgrading of minor flood protection schemes; river regulation works; and river bank protection works; (ii) project preparation for the development of potential storage reservoirs upstream of Kelani river; and (iii) design of an integrated catchment management program. Component 2: Strengthening of Hydro-meteorological Services, Early Warning and Response Systems This component will strengthen the quality of weather, climate and hydrological information and services, early warning, and response systems in Sri Lanka to reduce disaster risk for loss of life and property during extreme climate events and satisfy user needs of weather dependent sectors. Component 3: Project Implementation and Monitoring This component will ensure the efficient and successful implementation and monitoring of Project activities.
Investment Description
World Bank US$ 77.5
Contact Information
Asian Infrastructure Investment Bank (AIIB) Mr. Chuanzhi Su Project Team Leader/Senior Investment Operations Specialist Tel: +86 10 8358 0176 E-Mail: csu@aiib.org Mr. Priyantha Ratnayake Director General, Department of External Resources, Ministry of National Policies and Economic Affairs Tel: +94 11 2484 693, +94 11 2434 876 ext 2206 E-Mail: priyantha@erd.gov.lk, dg@erd.gov.lk Implementation Agency Mr. Jayantha Wijeratne Secretary, Ministry of Irrigation and Water Resources Management Tel: +94 11 2869553 / +94 11 2888902 E-Mail: irrigationwm@gmail.com ACCOUNTABILITY MECHANISM OF AIIB In addition, the AIIB has a Bank Oversight Mechanism. According to AIIB's policies, "people who believe they have been or are likely to be adversely affected by a failure of the Bank to implement the ESP may also submit complaints to the Bank's oversight mechanism in accordance with the policies and procedures to be established by the Bank for such mechanism." However, at the time of writing, it is unclear what the exact scope and function of this Oversight Mechanism will be.
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