Road Upgrade

Sept 03, 2009 (LBO) – Sri Lanka will upgrade 150 kilometres of provincial roads in the east of the country and 220 kilometres in the north central province with a 70 million US dollar credit from the Asian Development Bank (ADB), a senior minister said.
Information minister Anura Yapa said the total cost of the project will be 78 million US dollars. The Sri Lanka government will put in 8.
0 million US dollars to meet taxes and duties.

The ADB is also giving 150,000 US dollars as a grant to improve the eastern and north central bank provincial road development agencies. Sri Lanka will put in 150,000 US dollars.

The loan will be charged a 1.0 percent during an 8-year grace period and 1.
5 percent thereafter. It is repayable in 32 years.