ADB to finance US$300mn Sri Lanka elevated port highway

ECONOMYNEXT – Manila-based Asian Development Bank will help build an elevated access highway to Sri Lanka with financing of 300 million US dollars,  and another 145 million dollars for human resource development, the President’s office said.

President Maithripala Sirisena is visiting the Philippines and had talks with ADB President Takehiko Nakao.

The 300 million dollar financing for the port highway will come from South Asian Sub-region Economic Cooperation (SASEC) facility.

The ADB had also agreed to given 145 million US dollars for Science & Technology, Human Resource Development in Sri Lanka.

Another 10 million dollars would be provided for technical assistance for urban projects.

The Bank also agreed to provide an additional US$ 10 million for Urban project Preparatory Facility Technical Assistance.

President Sirisena had said Sri Lanka was no facing more droughts and floods and had asked for ADB support to meet disasters. The ADB has agreed to provide support under a Climate Change Mitigation project. (Colombo/Jan17/2018)

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