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US $100mn loan for Lankan roads
The World Bank signed an agreement with the Government of Sri Lanka today to provide US$100 million in additional financing for the Sri Lanka Road Sector Assistance Project to support the Government of Sri Lanka to continue creating an efficient national road system and lower transportation costs to maximize opportunities and growth, a statement of the bank said.
“This project will improve connectivity to the Northern and Eastern Provinces and assist the Government of Sri Lanka to accelerate and reap the benefits from the cessation of the conflict” the statement said.
The assistance is being provided to improve and upgrade 134 km on the East-West corridor of the A6 from Ambepussa to Dambulla and Kanthale to Trincomalee in two phases.
The funding is provided as additional financing to the original project which has already improved and completed over 620 km of national roads spread across eight provinces. The project aims to provide funding for maintenance of the existing national road network through the Road Maintenance Trust Fund and complement the funding currently being received from the consolidated fund.
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