Press briefing of Cabinet Decision taken on 2011-03-30

Greater Colombo Urban Transport Development Project Phase 2 (II) ? Japan International Cooperation Agency (JICA)

- In keeping with the official pledge, the Japanese government has agreed to provide a loan of Japanese Yen 31,688 million (approximately Rs.42,145 million) through the Japan International Cooperation Agency (JICA) for the construction of the Northern Section of the Outer Circular Highway (OCH). The proceeds of the loan will be utilized to construct 8.9 Km. length of Road Section from Kaduwela to Kadawatha of the OCH, to ease traffic congestion in the Colombo Metropolitan Region and improve the connectivity with the Southern Expressway from Colombo to Katunayake and other National Roads connected to the City of Colombo. The proposal made by H.E. the President to enter into a Loan Agreement with JICA for the purpose was approved by the Cabinet.