Road Finance

Sri Dharanee Performance Arts Theatre

Feb 22, 2013 (LBO) – Sri Lanka’s Hatton National Bank will provide a 3.2 billion rupee long-term loan to the state to finance the rebuilding of 37.5 kilometres of priority roads in the central part of the island, the state information office said. The loan will be used to re-build road sections of 33.50 to 44.0 kilometres and 57 to 59 kilometres on the Naula – Elahara – Laggala – Pallegama – Hettipola Road (B 312) and 20 to 45 kilometre stretch on Hasalaka Handungamuwa Road (B484).

The cabinet of ministers had approved Sri Lanka’s Road Development Authority to enter into a load agreement with Hatton National Bank.

The loan will be repaid over 14.5-years with 2.5-year grace, at the rate of average weighed prime lending rate plus 1.5 percent. .