Lankapage Logo Recent Top Stories
CP 13 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka gets US$ 98 million from ADB to develop roads in the North
Mon, Nov 19, 2012, 10:40 pm SL Time, ColomboPage News Desk, Sri Lanka.

Nov 19, Colombo: Sri Lanka has received an additional US$ 98 million loan from the Asian Development Bank (ADB) to develop the national and provincial roads in the country's war-torn North.

The Finance and Planning Ministry said the additional financing will be used to rehabilitate 200 kilometers of 19 roads under the Northern Road Connectivity Project to improve connectivity between the Northern Province and the other provinces of the country.

The additional financing of US$ 98 million includes a loan of US$ 30 million from the Ordinary Capital Resources and a loan equivalent to US$ 68 million from the Asian Development Fund (ADF) of ADB.

The total investment cost of the project is US$ 112.8 million (approximately Rs. 14.6 billion) and the Sri Lankan government will contribute the balance US$ 14.8 million.

Secretary to the Ministry of Finance and Planning Dr. P. B. Jayasundera, and Country Director of ADB Ms. Rita O'Sullivan, on behalf of the ADB, signed the two Loan Agreements today at the Ministry of Finance & Planning.

Under the project about 80 km of national highways in the northern and north central provinces will be improved. Another 50 km and 70 km of provincial roads in northern and north central provinces respectively will be rehabilitated and selected bridges will be replaced.

The road improvement projects are to be completed by 2017.

The Road Development Authority under the supervision of the Ministry of Highways and Road Development and the Northern Provincial Council through the Northern Provincial Road Development Department under the supervision of the Ministry of Local Government and Provincial Councils will implement the project.



ColomboPage - Recent 10 Stories
Presidential Commission probing disappearances in Sri Lanka receives complaints on ruling party Tamil politicians
-- [26 minutes ago]
Sri Lankan government considers a limit on duration of visa for foreign journalists
-- [1 hour and 12 minutes ago]
CEO of extremist Buddhist organization in Sri Lanka writes to President over threats to his life
Attacked opposition MPs of Sri Lanka ponder legal action
Sri Lankan President distributes title deeds to 5,500 Mahaweli families
New bridge across Batticaloa lagoon connects communities in Eastern Sri Lanka
Sri Lanka cricket authority has no contact with national coach
Sri Lankan Muslim religious body to meet President and Chief Prelates to discuss suppression of Muslim community
State doctors in Sri Lanka threaten to strike from Tuesday
Sri Lanka’s main opposition to raise privilege issue in parliament and complain to the IPU

Copyright © 2000, 2012 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.