The authorities in Sri Lanka's capital Colombo intend to invest in new storm drains in the near future. Photo courtesy of World Highways reader Lionel Rajapakse.
May 28, 2012
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The authorities in Sri Lanka's capital Colombo intend to invest in new storm drains in the near future. Photo courtesy of World Highways reader Lionel Rajapakse.
China Development Bank Corporation (CDB) says it will provide a loan facility worth US$ 580 million to help Sri Lanka carry out key infrastructure projects. Of the amount, $300 million will be used for developing roads, $200 million for water supply projects and the rest will be for the national business school. The new facility will increase the total lending of CDB to Sri Lanka to more than $1.4 billion
Sri Lanka is setting out plans for improvements to around 3,400km of rural roads. The work will largely be paid for through a loan from the Asian Development Bank (ADB). The work will cost US$172.1 million in all, of which $150 million will be in the shape of the ADB loan and the remaining $22.1 million coming from the Sri Lankan Government budget.
India plans to carry out the necessary feasibility study into the bridge and tunnel connection with Sri Lanka. India’s Transport Ministry has said that the Asian Development Bank (ADB) will provide the finance needed for the project, which is now expected to cost US$3.6 billion. According to India’s Transport Ministry the bridge and tunnel link with Sri Lanka forms part of a plan to boost the country’s connections with its neighbours. The new over sea crossing will provide an important connection to a count
