ADB approves $100 million loan for Sri Lanka water sector reforms

13 Sep 2024 CW Team

The Asian Development Bank (ADB) has approved a $100 million policy-based loan to support reforms in Sri Lanka's water supply and sanitation sector. This funding aims to enhance the country's resilience to climate change and promote long-term sustainability in water services.

The loan is part of the Water Supply and Sanitation Reform Program, which consists of two subprograms of $100 million each. The first subprogram will focus on establishing national policies and strategies, particularly for the National Water Supply and Drainage Board (NWSDB), while the second will support the implementation of reform initiatives.

Pedro Almeida, Senior Urban Development Specialist, ADB, emphasised that the program will address governance, sustainability, and private sector participation in Sri Lanka's water sector, which faces challenges such as fragmented water resources management and climate change impacts.

Additionally, the program includes $800,000 in technical assistance to support the Ministry of Water Supply and Estate Infrastructure Development (MWS) and NWSDB in implementing the reforms. The Water Innovation Trust Fund will contribute $300,000, while ADB’s Technical Assistance Special Fund will cover $500,000.

ADB, established in 1966, is owned by 68 members, with 49 from the region. (ET)

Real Estate

14 May 2026

AIDO Launches Smart Hotel Lock for Hospitality Spaces

AIDO, an endorsed brand of dormakaba, has launched the AIDO Hotel Lock, designed to improve secure and seamless access management across hotels, serviced residences and institutional spaces. The solution combines smart security, operational efficiency and contemporary design to support modern hospitality requirements.The lock features integrated electronic mortise functionality, reverse lifting handle locking and compatibility with third-party property management system platforms, enabling smoother room access and check-in operations. Powered by 6V DC with four AA alkaline batteries, it offers..

Häfele Unveils Zenith Digital Lock

Häfele has introduced the Zenith Digital Lock, designed to enhance home security through smart technologies and versatile locking functions. Finished in Black and Grey, the lock blends with modern interiors while offering a refined, tech-enabled access experience.The lock features Smart Password technology for secure access and added protection against password tracing. Its Smart Voice function provides guided assistance for easy operation, while Smart Freeze temporarily disables access after multiple incorrect attempts, strengthening safety and control.The Zenith Digital Lock also offers mul..

KBL Revenue Rises 11 Per Cent in Q4 FY26

Kirloskar Brothers Limited reported consolidated revenue from operations of Rs 14.15 billion for Q4 FY26, compared to Rs 12.81 billion in Q4 FY25, registering around 11 per cent year-on-year growth. Consolidated Profit Before Tax stood at Rs 1.47 billion, against Rs 1.27 billion in the corresponding quarter last year. Profit After Tax stood at Rs 1.04 billion, compared to Rs 1.12 billion in Q4 FY25.For FY26, consolidated revenue from operations stood at Rs 45.38 billion, compared to Rs 44.92 billion in FY25. Consolidated Profit After Tax for the year was Rs 3.61 billion, against Rs 4.03 billio..