US$ 44 m financing to build 210 rural steel bridges

Hong Kong & Shanghai Banking Corporation Limited (HSBC) has agreed to provide a credit facility of US$ 44.14 million to finance construction and rehabilitation of 210 rural bridges with lengths from six to 30 metres covering the entire country.

The Credit Facility Agreement was signed between Dr. P.B. Jayasundera, Secretary, Ministry of Finance and Planning on behalf of the Government of Sri Lanka and British High Commissioner John Rankin, the British High Commissioner in Sri Lanka and Nawalage Sriyan Suresh Cooray of HSBC yesterday.

The mobility of rural and estate sector has been greatly restricted because of the non existence of required infrastructure, specially bridges over perennial water bodies resulting physical and mental isolation of rural and estate communities, and a severe limitation in their interaction with nearby communities.

Further, the opportunities to exchange resources and utilise the facilities available in other town centres are restricted for most of estate and rural areas. Children in rural and estate communities do not get the chance to enjoy the laboratory facilities, library facilities, IT facilities in urban areas or semi-urban areas due to poor transport facilities in these areas.

Moreover, most of bridges in these areas are at least 50 years old and maintenance, rehabilitation and new construction have not kept abreast with the rapid growth in demand for road transport.

The construction of these bridges will immensely facilitate in creating opportunities for rural and estate communities residing in the remote areas connecting number of villages. It will enhance the quality of living standards of the people in these areas.

Reduction of travel time and travelling distance would bring benefits to these communities. Further, it will link rural communities with the mainstream of development and ensure the equal distribution of the country’s development benefits between the urban, rural and estate sectors.