Sept 26, 2013 (LBO) – Sri Lanka has to double road capacity every 10 years to meet rising demand, the Asian Development Bank said after approving a fresh loan to expand the island’s road network. The Manila-based bank approved a 75 million US dollar credit to build roads connecting to the island’s first expressway which runs from the capital Colombo to the South.
“Estimates suggest road capacity in Sri Lanka will need to be doubled every eight to 10 years to meet rising demand,” the regional lender said.
“Easing congestion on access routes to the South Expressway will boost industrial development as supply sources and markets outside the region become more accessible.”
The credit will also fund a long-term expressway connectivity plan and help Sri Lanka’s Road Development Authority carry out a feasibility study for 250 kilometres of national highways and engineering designs of about 200 kilometres of national highways.
“This will contribute to an integrated road network that will accelerate economic growth, while reducing travel time and cost, and improving safety,” â€ Chen Chen, transport specialist in ADBâ€™s South Asia Department said in a statement.