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Sri+Lanka+gets+%24+270mn+ADB+financing
Friday, 15 December 2017 - 16:47
Sri Lanka gets $ 270mn ADB financing
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The Asian Development Bank has extended financial assistance worth $ 270 million for the Implementation of the Integrated Road Investment Programme and Jaffna Killinochchi Water Supply Project.
 
A loan of $ 150 million was obtained for the investments required for the 4th tranche of the Integrated Road Investment Program and 2 loans worth of $ 120 million were obtained as additional financing for the investment required for the ongoing Jaffna Kilinochchi Water Supply Project.
 
Integrated Road Investment Programme
The Integrated Road Investment Program is being implemented in six Provinces - Southern, Central, Sabaragamuwa, North Western, North Central Provinces and Kalutara District in Western Province under the financial assistance.
 
About 3108 km of rural access roads and about 248 km of national roads will be improved and maintained under this program.
 
In addition, the program is focused on enhancing the capacity of road agencies on road asset management, project management and contract administration.
 
The total investment cost of the overall program is $ 906 million of which $ 800 million will be provided by ADB under Multi-tranche Financing Facility through 6 tranches.
 
The Government contribution for the total program is $ 106 million.
 
The government has already obtained loan assistance of $ 407 million from ADB under the 1st, 2nd and 3rd tranches.
 
The total investment cost of the proposed tranche 4 is $ 168 million.
 
The Government will contribute $ 18 million and the balance US$ 150 million will be obtained from ADB.
 
Jaffna Killinochchi Water Supply and Sanitation Project
 
The overall aim of the Jaffna Killinochchi Water Supply Project is to improve health and human development in urban areas of Jaffna Peninsula.
 
An additional financing of $ 153 million is required for the project and the government will contribute $ 33 million and the balance portion of $ 120 million will be provided in 2 loans by ADB.
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