Sri Lanka secures Rs. 20 Billion from ADB for rural road renovations

30 November 2023 09:29 pm - 21 - {{hitsCtrl.values.hits}}

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Colombo (PMD) - In a significant move towards infrastructural development, the Minister of Transport, Highways and Mass Media, Bandula Gunawardena, announced today that the renovation of dilapidated rural roads across the island nation is set to commence next week.

This ambitious project, aimed at reviving essential transportation networks, has received substantial support from the Asian Development Bank (ADB), which has agreed to provide a loan amounting to nearly Rs. 20 billion.

Minister Gunawardena, addressing a news conference at the Presidential Media Center under the theme 'Collective Path to a Stable Country,' today (30), emphasized the pivotal role the loan will play in rejuvenating the nation's road infrastructure.

He highlighted that the timely disbursement of funds would enable the commencement of road reconstruction work within the next week.

The minister also disclosed key developments in the country's debt restructuring efforts. France's Lazard, renowned for its international expertise, has been selected to spearhead the debt restructuring process, while Clifford Hans Company will handle legal matters arising from non-payment of international debts.

Minister Gunawardena revealed that fruitful discussions with creditors had taken place, with President Ranil Wickremesinghe seeking support from Japan, India, and China during official foreign visits.

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Comments - 21

Sri Thursday, 30 November 2023 10:21 PM

We hope and pray that 20℅ of it doesn't go to the pocket of some MPs

Nimal Perera Friday, 01 December 2023 07:11 AM

We the general public would want to know the items you will attend to using this loan, prior to obtaining the loan.

pantha kumaran Thursday, 30 November 2023 10:35 PM

Good news Bandulla. could you please tell us how much of this money will go into the politician pocket. You are one of them. Name the rest.

Quolp Thursday, 30 November 2023 11:29 PM

No money should be accepted from any banks as LOAN up until the elections planned for next year is over.

Amaran Friday, 01 December 2023 01:01 AM

Since high level corruptions are rampant, I doubt all monies will be put in the development for which grant is received. The doner agencies should call for periodical AUDITED REPORTS and further grant should depend on this.

Ram Friday, 01 December 2023 04:43 AM

Good work. Minister can fund the president RW's election campaign next year without difficulty

Amaran Friday, 01 December 2023 06:07 AM

Hon Minister, I have a very humble request to you. Please kindly take immediate steps to construct new overhead bridges at BAMBALAPITIYA and KOLLUPITIYA TRAIN STATIONS. Also complte the halted FLYOVER at SLAVE ISLAND TRAIN STATION. Thank You Daily Mirror if your include my comment.

Yohana Friday, 01 December 2023 06:14 AM

These loans are obtained close to election time.

Fred Friday, 01 December 2023 06:59 AM

Sri Lankans can't seem to do anything without borrowing.In this case the country is bankrupt so I guess it has to go with the begging bowl.But was the expenditure really necessary.Could it not have been done in some other way how will we pay it back doubt anyone is bothered just borrow and spend and get into more debt which will have to be restructured down the track.Sadly in life there is no free lunch so more money means more inflation more corruption more waste unless there is production to match -

Horikada pohotuwa Friday, 01 December 2023 07:12 AM

Pay day for this pohotuwa hora.

Sambo Friday, 01 December 2023 07:51 AM

Bandula seems to have a Merry Christmas .

ANURA NANAYAKKARA Friday, 01 December 2023 08:06 AM

PLEASE MAKE SURE THAT VULTURES LIKE SOME DIYAWANNAWA PARLIAMENTARIANS AND PRADESEEYA SABHA MEMBERS DON'T ROB A GOOD PERCENTAGE OF THIS LOAN.

Premalal Perera Friday, 01 December 2023 08:08 AM

Sri lanka need an independent project finance monitoring programme which should include one officer from the donor entity. Otherwise it will be the same song in time to come

Lion Friday, 01 December 2023 09:28 AM

The strongest expectation of the people of this country is to wipe of this curse from political arena at least in the next year

Gune Friday, 01 December 2023 09:44 AM

How much is going to be pocketed by corrupt politicians and public servants? These organisations keep giving these grants without putting strict rules to prevent corruptions. A sizable portion will go towards building their own homes.

Waco Friday, 01 December 2023 11:07 AM

Minsters will have very fat purses .

Kandy Friday, 01 December 2023 02:16 PM

This man find some way to earn a buck even when the country is bankrupt. Earlier made India give a loan for railway renovation. When will this tragedy end?

Gnanawathie Galkanda Friday, 01 December 2023 03:01 PM

Another trip funded by poor people to Bangkok to visit and investigate brothels!

Dhusana Friday, 01 December 2023 03:16 PM

Even if an audit is done by the AG, how much of the Loan will end in private pockets will not be revealed ?

Buddhist Friday, 01 December 2023 05:36 PM

Hopefully, this money does not go into the hands of the MP who will use it to bribe voters for their votes.

Rishan Friday, 01 December 2023 08:27 PM

Who checks the quality of the road construction. Hope ADB representative will monitor the progress . Miriswatte Gampaha Road still not widened and 3 main schools and the main Gampaha Divisional secretary pass on this road.... Hansagiri road lots of pit holes where one can swim during heavy rain.... hope RDA authority will utilise this fund to have a good quality road construction.

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Sri Lanka secures Rs. 20 Billion from ADB for rural road renovations

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