Additional funding support from ADB for road development
View(s):Additional financing will be provided by the Asian Development Bank (ADB) to rehabilitate Sri Lankan national and provincial roads with the objective of achieving a balanced development through improvement of road connectivity between Northern Province and the other provinces of the country.
Accordingly, 200 km of 19 roads are expected to be rehabilitated under the Northern Road Connectivity Project (Additional Financing), the bank said in a statement.
The total investment cost of this project is US$ 112.8 million (approximately Rs. 14.6 billion) of which $98 million is provided by the Asian Development Bank. This includes a loan of $30 million from the Ordinary Capital Resources and a loan equivalent o $68 million from ADB. The Government contribution to the investment would be $14.8 million.
The following specific interventions are expected to be carried out under the project;
I. Rehabilitation and improvement of about 80 km of national highways in the northern and north central provinces
II. Rehabilitation of about 50 km and 70 km of roads in northern and north central provinces respectively and rehabilitation or replacement of selected bridges
The ADB said the above road rehabilitation activities are scheduled to be completed by the end of December 2017 under the additional financing of the Northern Road Connectivity Project, which is expected to be implemented with ADB loan funds.
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