Sri Lanka commercial banks finance road

May 24, 2012 (LBO) - Sri Lanka will build a 24.
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14 kilometre road in the island's south with 1.98 billion rupees in commercial bank credit from Commercial Bank and DFCC Bank, minister Lakshman Abeywardene said.


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The road from Matara to Hakmana will connect to a planned expressway running to Hambantota, he said.
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The road will be built by domestic contractors.

Commercial Bank will loan 1.4 billion rupees with 2.5 year grace for 14 years with monthly repayment at an nterest rate 9.

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0 percent.

DFCC will loan 5.98 billion rupees 2 year grace for 14-years at 9 percent rate with half yearly repayment.



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Both loans will be covered by Treasury guarantees.

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