HNB to fund Rs. 3.23 b worth road projects

Friday, 22 February 2013 01:37 - - {{hitsCtrl.values.hits}}

Cabinet paper for 210 steel bridges costing 6.7 m pounds also approved

Cabinet approval has been given for the Government to take credit from the Hatton National Bank for two projects.

Cabinet approved a credit agreement with Hatton National Bank (HNB) to finance the construction of 210 steel bridges. The proposal made by the President, in his capacity as the Minister of Finance and Planning, to enter into a loan agreement with the Hatton National Bank to borrow US$ equivalent to Sterling Pounds 6,779,243 for the above project, was approved by the Cabinet.

In the second project improvement of the road sections in Naula-Elahara-Laggala-Pallegama-Hettipola Road (B 312) and the road section in Hasalaka-Handungamuwa Road (B 484) with financial assistance from Hatton National Bank was approved.

The Cabinet paper for the road construction was also presented by President Mahinda Rajapaksa and amounts to Rs. 3.23 billion.