ADB gives USD270Mn for road and water projects in Jaffna

ADB

Dec 15, 2017 (LBO) – The Asian Development Bank (ADB) will give US 270 million dollars in financial assistance from for the implementation of the integrated road investment program and Jaffna Killinochchi water supply project

A loan of USD 150 million was obtained for the investments required for the 4th tranche of the integrated road investment program and two loans worth of USD 120 million were obtained as additional financing for the investment required for the ongoing Jaffna Kilinochchi Water Supply Project.

The road investment program is being implemented in six Provinces; i.e. Southern, Central, Sabaragamuwa, North Western, North Central Provinces and Kalutara District in Western Province.

About 3108 km of rural access roads and 248 km of national roads will be improved and maintained under this program.

In addition, the program is focused on enhancing the capacity of road agencies on road asset management, project management and contract administration.

The total investment cost of the overall program is US 906 million dollars of which US 800 million dollars will be provided by ADB under Multi-tranche Financing Facility (MFF) through six tranches.

The Government contribution for the total program is US 106 million dollars. The government has already obtained loan assistance of US 407 million dollars from ADB under the 1st, 2nd and 3rd tranches.

The total investment cost of the proposed tranche 4 is US 168 million dollars. The Government will contribute US 18 million dollars and the balance US 150 million dollars will be obtained from ADB.

The total investment cost of the Jaffna Killinochchi Water Supply Project – Additional Financing will be US 153 million dollars.

The Government will contribute US 33 million dollars and the balance portion of US 120 million dollars will be provided in two loans by ADB.