Korea Eximbank approves $ 14 m for garbage collection compactors | Sunday Observer

Korea Eximbank approves $ 14 m for garbage collection compactors

The Export-Import Bank of Korea has approved US$14 million to supply garbage collection compactors to Sri Lanka. One-hundred-and-ninety garbage compactors will be provided to local authorities in the nine Provinces to collect and transfer large amounts of waste to dumping sites, in an efficient and economical manner.

The Korea Eximbank which operates the ECDF (Economic Development Cooperation Fund) entrusted to it by the Korean Government, will finance this project with a concessional EDCF compact loan at 0% interest and a 30-year repayment period including a10-year grace period. The project executing agency will be the Ministry of Local Government and Provincial Councils and Local Government and the National Solid Waste Management Centre, under the purview of the same Ministry, will function as the project management unit. 

 

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