Nov 20, 2006 (LBO) – Sri Lanka has concluded talks with the Asian Development Bank for an additional 90 million dollars to expand the countryâ€™s Southern expressway, Treasury Secretary PB Jayasundera said Monday.
The government wants to boost the governmentâ€™s infrastructure investment to five percent of Gross Domestic Product over the next few years, Jayasundera said.
Urgent projects for which donor funding has already been lined up includes a 450 million dollar, 300 megawatt coal power project in Norachcholai, expansion of the port as well as road and highway projects.
Serious infrastructure projects have begun. We spent two months with the ADB and told them to re-examine their portfolio in Sri Lanka. Now funding is available for roads, electricity, water supply, irrigation, housing and livelihood development,â€ Jayasundera said.
On Sunday, Sri Lankaâ€™s President Mahinda Rajapakse also flagged off a 125 million dollar upgrade to a small airport in Weerawila, South of Colombo, which is to become the islandâ€™s second international airport by 2009, handling 2 million passengers a year.
Sri Lanka expects gross domestic product end this year to touch 7.4 percent, led by growth in t