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Sri+Lanka+gets+%24+125mn+World+Bank+loan+to+improve+roads
Friday, 29 September 2017 - 15:18
Sri Lanka gets $ 125mn World Bank loan to improve roads
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Sri Lanka will get a $ 125 million loan from the World Bank for a new project to improve the road network in the country.

“The Road Development Authority will monitor the contractor and make payment based on the delivery of safe roads free of potholes, waterlogging, with shoulders, drainage, and lighting that are well maintained and comfortable for the road users,” said Amali Rajapaksa, World Bank Senior Infrastructure Specialist and Task Team Leader. 

“These types of contracts will benefit the government, contractors and the general public by saving costs and serving as a model that could be adopted by many other sectors in the future.”

The funds will come from the International Development Association, the World Bank’s grant and low-interest arm, with a maturity of 25 years that includes a grace period of 5 years.

The project also supports a program financed by the Asian Development Bank.

The RDA is the lead implementing agency.

The project will be implemented on the section between Ja-Ela and Chilaw on National Road A003. 

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