Korea Eximbank to spruce up Kandy connectivity

Inception Workshop: KSP Policy Consultation Road Network Improvement in Kandy City (KSP Policy Consultation Team from Korea)

The Export-Import Bank of Korea (Korea Eximbank) has agreed to support the development of a master plan to strengthen the connectivity of the traffic network in Kandy city through a Knowledge Sharing Program (KSP). 

In connection with this, a Korean delegation conducted its inception workshop with the Road Development Authority (RDA) yesterday.

As the second largest city in Sri Lanka, Kandy is geographically located as a nodal point of major road networks in Sri Lanka. However, at present, the city is afflicted with increasing traffic congestion caused by unsystematic road networks in the city; so, there is a great need for a comprehensive study to develop a tailored and systematic traffic network that takes into consideration the urban expansion of the city. The support from Korea is to address this issue in a sustainable way.

Considering the historic, commercial and geographic significance of the city of Kandy, the lack of an efficient road network becomes a greater challenge that impedes the economic and social development of the city. 

Narrow access routes, hilly terrain and being located in an environmentally and historically sensitive area severely restrict the smooth traffic flow within the city. 

In this context, Korea Eximbank intends to share the traffic network expansion experience of Korea with Sri Lanka by supporting the development of this plan which strengthens the accessibility between northern and eastern parts of Kandy. During the mission, the members from the Korean consultant team stated that their master plan will also take into consideration other ongoing developments in Kandy city such as the construction of the Central Expressway and the proposed 5.5km by-pass Kandy tunnel in order to create more synergy in their plan.

The scope of this KSP policy consultation includes analysing the current and future traffic issues in Kandy city, conducting case studies on Korean experience in improving transport network, recommending how to improve the connectivity between the North and East of Kandy and providing necessary capacity building and dissemination programs to RDA officials.  Through successful application of an efficient road network model in Kandy, it is anticipated to improve not only the accessibility and livability but also the investment attractiveness of the city.

Korea Eximbank provides Official Development Assistance (ODA) for international development and cooperation. The bank signed its first ODA loan agreement with Sri Lanka in 1990, for the rehabilitation of the Colombo-Galle road. As of now, the Bank has approved USD 606 million for 27 development projects in Sri Lanka.

The bank also provides financing for international trade and overseas investment, to promote bilateral economic cooperation. Since 1978, Korea Eximbank has provided USD 340 million both for trade between Sri Lanka and Korea and for Korean companies’ foreign direct investments in Sri Lanka. 

The KSP is a special technical assistance program provided by the Korea Eximbank under the auspices of the Ministry of Strategy and Finance of Korea to share Korea’s development experience and knowledge accumulated over the past decades with partner countries. KSP offers comprehensive policy consultation tailored to the needs of partner countries encompassing in-depth analysis, policy recommendations, and training opportunities.