30 November 2023 09:29 pm Views - 785
This ambitious project, aimed at reviving essential transportation networks, has received substantial support from the Asian Development Bank (ADB), which has agreed to provide a loan amounting to nearly Rs. 20 billion.
Minister Gunawardena, addressing a news conference at the Presidential Media Center under the theme 'Collective Path to a Stable Country,' today (30), emphasized the pivotal role the loan will play in rejuvenating the nation's road infrastructure.
He highlighted that the timely disbursement of funds would enable the commencement of road reconstruction work within the next week.
The minister also disclosed key developments in the country's debt restructuring efforts. France's Lazard, renowned for its international expertise, has been selected to spearhead the debt restructuring process, while Clifford Hans Company will handle legal matters arising from non-payment of international debts.
Minister Gunawardena revealed that fruitful discussions with creditors had taken place, with President Ranil Wickremesinghe seeking support from Japan, India, and China during official foreign visits.