UN-HABITAT and Government of Sri Lanka sign agreement on slum upgrading

Vancouver , 22 June 2006 — UN-HABITAT and the Government of Sri Lanka on Tuesday signed a Memorandum of Understanding targeting slum upgrading in the Asian nation.

UN-HABITAT Executive Director Mrs. Anna Tibaijuka and the Sri Lankan Minister for Urban Development and Water Supply Mr. Dinesh Gunawardena signed the MoU at the ongoing third session of the World Urban Forum.

The agreement seeks t o promote the mobilization of domestic private sector capital and sustainable financing for slum upgrading, low income housing, urban and other shelter related infrastructure.

It will also seek t o develop financial products with credit support enhancement for the poor. This will include establishment of city and national level guarantee funds and national policy frameworks to upgrade and increase low income housing in the country.

Under the MoU, UN-HABITAT will provide advisory and technical support to the Government of Sri Lanka. The support will include the provision of seed capital from the agency's Slum Upgrading Facility. The government of Sri Lanka will support the slum upgrading programme through targeted capital contributions. The government will also enhance its policies to create an enabling environment that promotes investment in low cost housing and facilitates access to land and financing.

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