Road Finance

Nov 19, 2012 (LBO) - Sri Lanka has got a loan of 98 million US dollars from the Asian Development Bank for a 112.
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9 million US dollar (14.6 billion rupees) program to rebuild 200 kilometres of roads in former war zones in the north of the island.
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The additional financing for the Northern Road Connectivity Project will be used to rebuild 19 roads and bridges in the northern and north central provinces, a statement by Sri Lanka's finance ministry said.


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The ADB is loaning 20 million US dollars from is ordinary capital resources window and 68 million US dollars from the Asian Development Fund.

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ADF loans are typically cheaper.
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Sri Lanka's government would put in 14.8 billion US dollars.

The loan agreement was signed by Sri Lanka's finance ministry secretary P B Jayasundera, and ADB country director Rita O'Sullivan.

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The project is expected to be completed by December 2017.

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