Press briefing of Cabinet Decision taken on 2020-06-24

Financing the projects implemented by the Road Development Authority and the National Water Supply and Drainage Board

- Construction activities of Section II of the Central Expressway Project are being carried out at present while measures have been taken to initiate the construction works of the section I of the same. Further, the project activities for the rehabilitation of roads in extent of 100,000km has commenced and are being carried out at present. Accordingly, the Road Development Authority has to secure an amount of Rs. 50 billion in order to make payments relating to the projects carried out by the said Authority. In addition to that, an amount of Rs. 30 billion is also required to settle the essential financial commitments pertaining to the projects undertaken by the National Water supply and Drainage Board. As such, the proposal made by the Hon. Prime Minister in his capacity as the Minister of Finance, Economic and Policy Development to authorize the relevant authorities of the two institutions to obtain funds from the local banks including Bank of Ceylon, People's Bank and National Savings Bank and to issue the Treasury Guarantees for the purpose was approved by the Cabinet .