Sri Lanka to build four new flyovers with Hungarian funds

Sri Lanka will build four more flyovers in the Muththettugala railway crossroad and Hiripitiya junction, Pasyala junction, Negombo Maristella junction and Thalawathugoda junction, to reduce traffic congestion, with financing from Hungary.

Highways Minister Johnston Fernando this week sought the approval of the Cabinet of Ministers to go-ahead with these four projects, which have been identified by the Road Development Authority as a way to reduce traffic congestion in the national road network.

The Government Information Department noted that the Governments of Sri Lanka and Hungary have entered into a finance corporation agreement to provide concessionary finance facilities through the Exim Bank of Hungary for implementing infrastructure development projects in the country.

Recently, Sri Lanka secured a soft loan of Euro 52 million from Hungary to finance the infrastructure development projects, including the construction of flyovers in Kohuwala and Gatambe.

Hungarian Foreign Affairs and Trade Minister Péter Szijjártó this month was in Sri Lanka on an official tour.