Press briefing of Cabinet Decision taken on 2019-09-10

Financial assistance from the Asian Development Bank (ADB) for the implementation of the 2nd Integrated Road Investment Program

- The Government of Sri Lanka has entered into a Framework Financing Agreement with the Asian Development Bank to obtain multi-tranche financial facilities up to an aggregate of US$ 900 million to finance the Second Integrated Road Investment Programme to rehabilitate about 3,400 km of rural access roads and around 340 km of national roads in the Northern, Eastern, Uva and Western Provinces and for improving the capacity of road agencies pertaining to rehabilitation, maintenance, safeguards, road safety, research and road design and construction. Accordingly, the proposal made by the Minister of Finance to enter into a loan Agreement with the said bank to obtain a US$ 150 million from the Regular Ordinary Capital Resources of the Asian Development Bank, for the 02nd tranche of the programme with a total investment cost of US$ 171.8 million and is expected to be completed by the year 2023, was approved by the Cabinet.