Sri Lanka to obtain USD 200 M for third phase of highways investment program
May 11, 2021 02:22 pm
The Cabinet of Ministers has granted the approval to obtain USD 200 million as the third instalment of the agreement between the government of Sri Lanka and the Asian Development Bank (ADB) to finance the Second Consolidated Highways Investment Program.
The resolution furnished by the Prime Minister in his capacity as the Minister of Finance was tabled at the Cabinet meeting held on Monday (May 10).
The Sri Lankan government has entered into an agreement with the ADB to obtain USD 900 million for the implementation of the Second Consolidated Highways Investment Program.
Under the said program, plans are underway to renovate and maintain 3,400 km of rural access roads in the Eastern, Northern, Uva and Western provinces and to renovate 340 km of national roads between the rural community and the socioeconomic centres in aforesaid provinces, according to the Government Information Department.
The entire program is scheduled to be completed by March 31, 2027.
