China supplies road funding to Sri Lanka

Chinese financing will be used to pay for new road links in Sri Lanka. The China Development Bank is providing sources to funds of up to US$500 million that will pay for key road upgrades in Sri Lanka.
February 14, 2012 Read time: 1 min
Chinese financing will be used to pay for new road links in Sri Lanka. The 2621 China Development Bank is providing sources to funds of up to US$500 million that will pay for key road upgrades in Sri Lanka. Projects already under the spotlight include the construction of a 17.5km road project and a 47km road project. These new roads will help improve transport links to Sri Lanka's low-grown tea sector, which forms a key part of the country's economy. The 17.5km road project will link Pitigala and Horawal and will run through Pelawatta, while the 47km road will connect the Southern and Western provinces, passing through Morawaka, Neluwa and Pelawatta. The Chinese investment is of note as it reveals how the country is investing in other Asian nations. Sri Lanka does have a considerable need for infrastructure development in the wake of the civil war that raged for many years through the country.

For more information on companies in this article

Related Content

  • Funding for Sri Lankan highway upgrade work
    July 8, 2014
    A loan from the Asian Development Bank (ADB) worth US$800 million will help pay for a series of major road upgrades in Sri Lanka. The remaining $106 million required for the project will be provided by the Sri Lankan Government. The funding will pay for works to 2,200km of provincial and local roads as well as 400km of national roads. The work will help provide proper road connections to around 1,000 villages, with the loan being supplied in a series of payments. The first $100 million payment will be made
    Read More
  • Sri Lanka transport boost
    September 29, 2016
    Major plans to upgrade Sri Lanka’s transportation network are being developed. The plans call for upgrades to roads, rail and port facilities right across the country, in a bid to boost the economy. Assistance in preparing the improvement plans for roads, rail links and port facilities is being provided by the Asian Development Bank (ADB). The focus will be on improving transport links both between and within the country’s major towns and cities. One of the priority projects so far identified is for a new r
    Read More
  • Kenya develops annuity road funding model
    May 8, 2015
    Kenya is introducing novel methods for funding its necessary road infrastructure development - Shem Oirere writes. Kenya has unveiled a new financing model for road construction and reviewed its design standards and construction methodologies, which forms part of a new strategy for the East African country. Under this new plan Kenya is planning to upgrade 10,000km of road, with these links featuring asphalt surfacing; the work being carried out over the next five years at a cost of US$2.8 billion. Despite t
    Read More
  • Bangladesh moves forward with US$735 million highways programme
    August 5, 2021
    A massive highways development programme is being planned in Bangladesh
    Read More

Highlighted Content