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
Tamils in eastern Sri Lanka protest Missing Persons Commission's hearings
-- [8 hours ago]
Sri Lanka sending high-level delegation to Maldives to express concern over political crisis
Sri Lanka stock exchange to set up a Central Counterparty Clearing system
Sri Lanka, China committed to strengthen 'all weather friendship'
Sri Lankan PM orders to remove high-maintenance foliage wall from official residence
Top UN official visiting Sri Lanka holds discussions with President
Sri Lanka Freedom Party central committee to decide on constitutional reforms in a week
Sri Lanka Police appoint new head to the CID
UN Under Secretary General calls on Acting Foreign Minister of Sri Lanka
Tamil Nadu CM asks Indian PM to get the fishermen and boats released from Sri Lanka promptly

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.