$ 900 m ADB loan to rehabilitate 4,000 km of rural roads

Tuesday, 31 January 2017 00:00 - - {{hitsCtrl.values.hits}}

The Government will borrow $ 900 million from the Asian Development Bank (ADB) to rehabilitate and improve 4,000 km of road in four provinces.

The loan, which was given Cabinet approval last week, is the second phase of the i-Road Project under the ADB which began in 2014. Roads in the Northern, Eastern, Uva and Western provinces will be rehabilitated under this agreement. The Multi Tranche Financing Facility of $ 900 million will be disbursed in tranches commencing from September 2017.

Cabinet approval was also given to commence the procurement activities in advance and to appoint the relevant Procurement Committees and Technical Evaluation Committees.

Under the first phase of the i-Road project, roads in the Southern, Sabaragamuwa, Western, Central, North Western and North Central Provinces were earmarked for financing under the ADB. As part of this project the access routes between rural areas and socioeconomic centres are being rehabilitated, noted the Cabinet paper submitted by Higher Education and Highways Minister Lakshman Kiriella and seen by the Daily FT.

The project will also include post-construction performance-based maintenance as well. (UJ)

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