Jan 18, 2013 (LBO) – Sri Lanka will build 37 major bridges on national roads with a loan from the Japan and major roads in Colombo will be re-built with another credit, information minister Keheliya Rambukwelle said. A bridge on the Nawala-Nugegoda road will also be reconstructed with the funds.
Sri Lanka will borrow 12.38 billion yen (18.57 billion rupees) for the bridge project.
The loans will have a repayment period of 40 years with a 10 year grace period and an interest rate of 0.2 percent.
Sri Lanka will also borrow 50 million US dollars from the OPEC Fund for International Development to expand road in the capital Colombo.
The funds will be used to expand 13 road sections covering 65 kilometres.