Rabobank, Dutch govt. fund Lankan rural bridges, vocational institute

The financing agreement was signed by Finance Ministry Secretary Dr. R.H.S. Samaratunga and Rabobank Director Han Bartelds, in the presence of Netherlands Ambassador Tanja Gonggrijp, at the Finance Ministry 

Two agreements were signed yesterday between the government and the Netherlands’ Rabobank amounting to EUR 70.7 million (approx. Rs.14.1 billion) for the construction of rural bridges and establishment of the National Vocational Training Institute in Hingurakgoda, Polonnaruwa.

Rabobank of the Netherlands will provide two export credit facilities to cover 75 percent of each contract cost. The balance 25 percent of each contract cost will be financed by two grants extended by the Development-Related Infrastructure Investment Vehicle (DRIVE) of the Dutch government.

The Sri Lankan government has accorded high priority for onnectivity improvement within the country with a view to providing full benefits from mainstream development activities in the country to the remote villages as well. 

The ‘Construction of Rural Bridges Project’, aiming at connecting rural areas to the developed regions by constructing rural bridges, has been initiated by the government few years ago. 
A large number of lagging villages will be facilitated with transport facilities through this programme. 

Internal and Home Affairs and Provincial Councils and Local Government Ministry has identified around 200 rural bridges to be constructed with the concessional financial assistance of the Netherlands as part of the above programme