A high-level delegation from the European Investment Bank (EIB) will make a three-day official visit to Sri Lanka later this week as the start of a South Asia tour, the European Union (EU) office in Colombo said on Monday, China's Xinhua news agency reported.

Andrew McDowell, the newly appointed vice president of the EIB responsible for South Asia, will discuss the recent engagement and future investment with Sri Lankan Prime Minister Ranil Wickremesinghe and senior government officials, business leaders, members of the diplomatic community and financial institutions.

McDowell will also inspect the ongoing construction work to upgrade wastewater infrastructure in Colombo which is financed by the EIB in conjunction with the Asian Development Bank.

The EIB, an European long-term lending institution and owned directly by the 28 European Union member states, has supported investments in Sri Lanka since 2002, including backing climate related investment, private companies and post-tsunami recovery.

"The European Investment Bank has a strong track record of supporting transformational investment that improves lives and economic opportunities across Asia and around the world.

"This week's visit to Sri Lanka builds on the fruitful discussions with Minister (of Finance) Karunanayake following the European Investment Bank's first ever support for water investment in Sri Lanka and the first loan for public sector investment agreed with this government," McDowell said before his arrival in Colombo.

McDowel will become the first vice president of the EIB to visit Sri Lanka in more than five years.

- BERNAMA