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
Sri Lanka appoints Ambassador to Myanmar
-- [6 hours ago]
Former Treasury Secretary summoned to police SIU
-- [6 hours ago]
Sri Lanka court dismisses petitions against Susil Premajayantha and Anura Priyadarshana
-- [6 hours ago]
Human Rights Commission of Sri Lanka launches regional committees to address local complaints
-- [7 hours ago]
Sri Lanka's Bank of Ceylon leads growth course in first half of 2015 with Rs. 9.1 billion PBT
-- [7 hours ago]
Sri Lanka Freedom Party 64th anniversary celebrations in Polonnaruwa on Sept 2
-- [8 hours ago]
Sri Lanka to hold first ever Colombo International Maritime Conference next month
-- [9 hours ago]
Minor Tamil party leaders Thondaman and Devananda to support Sri Lanka's national government
India officially gifts Coast Guard Ship to Sri Lanka Navy
Sri Lanka armed forces annual joint field exercise Cormorant Strike to commence on September 3

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.