ADB approves $175m loan for Sri Lanka road improvements
Jan 13, 2016 18:01 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT – The Asian Development Bank said it has approved a loan of 175 million US dollars to improve rural roads in Sri Lanka.
“The absence of all-weather road connectivity is a serious problem in Sri Lanka's rural areas, preventing communities from accessing socioeconomic centres,” the ADB said.
“Poor road infrastructure has a strong link to poverty and affects economic growth in rural areas, agricultural productivity, and employment.”
The loan is the third tranche of an integrated road investment program to improve connectivity between rural communities and socioeconomic centres in the island by year 2027.
The program aims to improve road conditions between selected rural communities and socioeconomic centres and the capacity of road agencies, the ADB said.
The loan will finance projects in the Southern and Sabaragamuwa Provinces, Kalutara District of Western Province, Central Province, North Central Province, and North Western Province. (Colombo/January 13, 2016)