The Asian Development Bank (ADB) has agreed to provide USD 60 million for the speedy completion of road development projects in Sri Lanka which were suspended due to lack of funds.
The projects under the Integrated Road Investment Programme will be implemented using these loan funds provided by the Asian Development Bank.
Accordingly the Cabinet of Ministers approved the proposal presented by President Ranil Wickremesinghe as the Finance, Economic Stabilization and National Policies Minister to enter in to the relevant loan agreement, Transport, Highways and Mass Media Minister Dr. Bandula Gunawardhana said during yesterday’s media briefing to announce Cabinet decisions at the Government Information Department. Some development projects under the Integrated Road Investment Programme implemented using loan funds provided by the Asian Development Bank had to be suspended earlier due to non-availability of funds.
In the discussions held by the Finance, Economic Stabilization and National Policies Ministry with the Asian Development Bank on this matter, the ADB had agreed to provide a loan amount of US$ 60 million for the completion of the development of roads under the relevant project.
