The World Bank late Tue approved US$ 53 mn to roll out the e-Sri Lanka project, which aims to bridge the digital divide in Sri Lanka.

Rolled out through the Information Communication Technologies Agency (ICTA) over a five-year period starting Nov., the project aims to improve public service delivery, increase private sector competitiveness, promote new sources of growth, accelerate social development, bridge the digital divide, and support peace.

ICT diffusion across the country will be the enabler for development throughout the key sectors of the economy.

The funds will come through the International Development Association (IDA), the World Bank’s concessionary lending affiliate, with 40 years maturity and a ten-year grace period.

“This is an exciting program and we are delighted to be able to provide support for it,” says Peter Harrold, World Bank Country Director for Sri Lanka. “It supports the three key aims of our country strategy: it underpins peace by connecting the North and the South; it enhances the prospects for growth, not only in the IT sector itself, but also by raising productivity growth in other sectors; and it advances the cause of equity, by improving the access of the poor to a range of public services.”

… if you have any background on this deal please feel free to start a thread below. I believe Rohan mentioned that the World Bank traditionally doesn’t give money for infrastructure, but that something was negotiated.