Press briefing of Cabinet Decision taken on 2012-09-12

Improvement of Padeniya - Anuradapura Road Project (Supplementary Loan)

? a loan agreement has already been signed between the Economic Development Cooperation Fund (EDCF) of the Export Import Bank (EXIM Bank) of Korea and the Government of Sri Lanka for the provision of a loan in Korean Won equivalent to US$ 55 million for the above project. The project includes widening and improvement of 80.8 km of Padeniya - Anuradhapura Road. The EDCF has agreed to provide a supplementary loan in Korean Won equivalent to US$ 11,132,000 to finance the additional work of the project. The proposal made by H.E. the President, in his capacity as the Minister of Finance and Planning, to enter into a loan agreement for the supplementary loan, was approved by the Cabinet.