ADB to fund USD800mn for the 3rd phase of connecting rural in Sri Lanka

Oct 22, 2015 (LBO) – Sri Lanka to get financial assistance of 800 million US dollars from the Asian Development Bank (ADB) for the implementation of phase 3 of the Integrated Road Investment Programme, cabinet spokesman told reporters on Thursday.

The programme is implemented with the view of improving the road connectivity within selected rural centres by rehabilitating national, provincial, local authority and feeder roads.

This programme expects to rehabilitate 3108 km of rural roads and 248 km of national roads with an estimated cost of 906 million US dollars.

ADB has agreed to bare 800 million US dollar of the cost and the rest should be bared by the Government of Sri Lanka.

The project is implemented in Southern, Sabaragamu provinces, Kaluthara District, Central, North Central and North Western Provinces.

The proposal made by Hon. Prime Minister Ranil Wickremesinghe, in his capacity as the Minister of National Policies and Economic Affairs, to enter into relevant agreements for obtaining the funds of 200 million US dollars from the ADB, was approved by the Cabinet of Ministers.

 

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Roshan Leanage
Roshan Leanage
6 years ago

More and more Loans
Appears to be the mantra of this government !!
Everyday we here only about loans being taken either in the form of money printing or external funding !!!
Anyone knows the total debt to GDP where it stands?