Sri Lanka's Central Expressway to get ADB, Japan, China finance
Jul 10, 2015 15:02 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - An expressway to central Sri Lanka which is to go ahead with financing from Japan, China, the Asian Development Bank as well as domestic finance.
A cabinet subcommittee on economic affairs has recommended the acceleration of the project, the state information department said.
The first section of the road from Kadawatha to Meerigama will be financed by a loan from China EXIM Bank.
The section from Meerigama to Kurunegalal will be financed by the Asian Development Bank and a link to Kandy from Pothuhera will be built be financed by he Japan International Co-operation Bank.
The section from Kurunegala to Dambulla will be built by local contractors with funds raised from rupee bonds.
Finance Minister Ravi Karunayake has said the entire expressway may cost around 2.5 billion US dollars.