ADB grants US$ 1700 mn for rural road development | Daily News

ADB grants US$ 1700 mn for rural road development

Two stages to cover all provinces upto 2027

The Asian Development Bank will grant a loan of US$ 1700 mn for road development projects carried out in rural areas, ADB's Country Director Sri Widowati said yesterday.

The Country Director said that the ADB has already loaned US$ 800 mn to Sri Lanka and an additional US$ 900 mn will soon be given under stage two of the loan facility.

Stage one of the loan facility will fund projects carried out from 2014 to 2024 while Stage two loan facility will fund projects carried out from 2017 to 2027. Stage one road development projects include the carpeting and concreting of roads in rural areas in Southern, Sabaragamuwa, Wayamba, Central, North-Central and Uva provinces. Stage two funds will be allocated for similar road development projects in Northern, Eastern and Western provinces, Widowati said.

She said the ADB decided to extend its loan facility for Sri Lanka considering the rapid development in road and transport sectors to be keys for a solid economy.

The media was made aware of these comments during a field trip held to observe the road development projects carried out in rural areas in Southern Province, benefitting the people of the area.

According to RDA sources, 98% of the rural road development projects have now been completed. Highways and Road Development Ministry Secretary Sunil Hettiarachchi said the Ministry is planning to develop all the roads in the country including roads belonging to Pradeshiya Sabhas.


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