Road Finance

Mar 21, 2013 (LBO) - Sri Lanka will borrow 150 billion rupees (about 1.
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2 billion US dollars) from domestic banks to build 716.
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5 kilometers of roads through domestic contractors, information minister Keheliya Rambukwelle said. The cabinet of ministers had approved the plan to borrow money through Treasury guarantees.

Sri Lanka's Road Development Authority had earlier borrowed up to 500 million US dollars from domestic banks.


But much larger volumes have been borrowed from banks by loss making energy enterprises in the past two years.



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In recent months, bank interest rates have been sharply higher than Treasury bill yields.
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