US$ 200mn ADB loan for rural road network upgrade

28 May 2021 - {{hitsCtrl.values.hits}}

Sri Lanka’s rural road network will receive an upgrade in the coming months with the government having signed a US$ 200 million loan agreement with the Asian Development Bank (ADB) earlier today.

The new loan agreement to support the roll out of the Second Integrated Road Investment Programme Tranche three, will continue the assistance of ADB to upgrade Sri Lanka’s rural road network connecting vast rural populations to jobs and services.

Alongside the loan agreement, a project agreement was also inked between ADB and the implementing agency, Road Development Authority, this morning.

The project will be implemented, despite the pandemic, while adhering to strict health guidelines and is expected to support the post-pandemic economic recovery in rural areas.

The ADB said with the rural road network upgrade, the targeted areas will receive support through job opportunities and by obtaining services from rural populations, such as the hiring of vehicles, buildings, equipment, etc.

Business

US$ 200mn ADB loan for rural road network upgrade

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