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, Japan to link FTA this year
-- [6 hours ago]
Hotel Management Conference in Colombo from May 12-13
-- [6 hours ago]
Teenage lovers jump off water fall to death in Sri Lanka
-- [8 hours ago]
Sri Lankan government committed to strengthen private sector - President
-- [8 hours ago]
Tamil Nadu fishermen allege Sri Lanka sea pirates attacked them in mid-sea
-- [9 hours ago]
Former Sri Lanka President denies existence of foreign bank accounts
Sri Lanka Marxist party says 19th Amendment is not perfect, but better than nothing
Sri Lanka's Central Bank Governor cleared of any misconduct in bond issue
Sri Lankan government to send team to Ukraine to probe former diplomat
Sri Lanka's former ruling party to be re-launched this week by the President

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.