Austria gives Euro19Mn loan to upgrade technical education

Nov 29, 2017 (LBO) - The Austrian Government will provide a 19.35 million Euro (Rs 3546 million) interest free soft loans to upgrade the Katunayaka Engineering Technology Institute and to obtain 100 Ambulances for state hospitals. This loan facility provided through Raiffeisen Bank of Austria will set aside 9.85 million Euro to procure 100 ambulance cars for state hospitals and another 9.5 million Euro for upgrading the Institute of Engineering Technology, Katunayake. Under the ambulance car project 100 ambulances will be given to selected hospitals with lifesaving equipment. The project on enhancing and upgrading of Institute of Engineering Technology, Katunayake will upgrade existing workshops and provide latest equipment facilitating to increase the student intake up to 500 by 2020 of the Institute. The agreement in this regard was signed at the Finance Ministry in the presence of the Deputy Commercial Counsellor of the Austrian Embassy Siegfried Weidlich.