SL secures USD 60 Mn financial assistance from ADB

Colombo, Nov 28 (Daily Mirror) - The Government of Sri Lanka is set to borrow USD 60 million from the Asian Development Bank (ADB) under the Second Integrated Road Investment Programme – Tranche 4. 

The funds will be allocated to address crucial works on ongoing and incomplete road sections as part of the broader Integrated Road Investment Programme, aimed at enhancing road safety and minimizing public inconvenience.

The loan, provided by ADB's Concessional Ordinary Capital Resources, forms a part of the total estimated investment cost of USD 68.5 million for the 4th tranche. The Government will bear USD 8.5 million of this cost.

The loan agreement for the Second Integrated Road Investment Programme – Tranche 4 was officially signed today by K.M. Mahinda Siriwardana, Secretary, Ministry of Finance, Economic Stabilization and National Policies, and Takafumi Kadono, Country Director, ADB Sri Lanka Resident Mission, representing the respective parties.