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Additional funding from ADB for Lankan roads

19 November 2012 11:21 am - 0     - {{hitsCtrl.values.hits}}

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Sri Lanka's Finance Ministry today entered into an agreement with Asian Development Bank (ADB) for additional financial assistance to improve the road connectivity between the country’s Northern Province and other provinces

Sri Lanka's Finance Ministry yesterday entered into an agreement with Asian Development Bank (ADB) for additional financial assistance to improve the road connectivity between the country’s Northern Province and other provinces.

In this connection an agreement was signed between Treasury Secretary Dr.P.B Jayasundara and ADB country Director Rita O’Sullivan where ADB agreed to provide US $ 98 million for the project through its ordinary capital resources and Asian Development Fund.

The government's contribution to the project would be US $ 18.8 million. The total project cost is US $ 112.8 million (approximately Rs.14.6 billion).

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