Sri Lanka to obtain USD60mn loan from OPEC for road rehabilitation

May 29, 2015 (LBO) – Sri Lanka will obtain a loan facility of US 60 million dollars from the development fund of Oil Producing and Exporting Countries (OPEC) to rehabilitate and renovate the road from Baddula to Chenkaladi.

The Cabinet has given approval for the proposal made by the Minister of Finance, Ravi Karunanayake to entre into the loan agreement, the Cabinet spokesperson said.

The Peradeniya – Badulla – Chenkaladi road (A5 road) has been identified as a main road in Sri Lanka that connects the Eastern and Central provinces and accordingly the road segment from Peradeniya to Baddula has already been renovated as phase one.

The remaining segment from Baddula to Chenkalladi amounting to 151.3 kiliometers are to be renovated as phase two.