Rural bridges get $ 162 m boost

Monday, 20 October 2014 00:03 - - {{hitsCtrl.values.hits}}

The Deutsche Bank AG (London) and the Bank of Tokyo-Mitsubishi UFG Ltd., has agreed to provide a credit facility of $ 162 million (over Rs. 21 billion) to finance the construction and rehabilitation of 537 rural bridges with lengths of 6 to 30 metres countrywide. The Finance Ministry said the construction of these bridges will immensely facilitate the creation of opportunities for rural and estate communities residing in remote areas connecting with a number of other villages. Furthermore, it will link rural communities with mainstream development and ensure equal distribution of countries between the urban, rural and estate sector. This project will be implemented by the Economic Development Ministry.

British High Commissioner John Rankin, who signed the loan agreement on behalf of the UK Government, shakes hands with Finance and Planning Ministry Secretary. Dr. P.B. Jayasundera. Representatives of Deutsche Bank and the Bank of Tokyo-Mitsubishi UFG also signed the agreements