Funding package for Sri Lanka tunnels

A key portion of the funding required for the project to build new tunnels in Sri Lanka has been secured. A loan worth US$199 million is being provided by the Korea Economic Development Cooperation Fund (EDCF) for the project, which will be carried out in the city of Kandy.
June 2, 2017 Read time: 1 min

A key portion of the funding required for the project to build new tunnels in Sri Lanka has been secured.

A loan worth US$199 million is being provided by the Korea Economic Development Cooperation Fund (EDCF) for the project, which will be carried out in the city of Kandy. The project also includes building a number of bridges and roads and will cost $250 million in all.

Finance & Funding

Related Content

  • Sri Lanka road project partially funded by South Korea
    April 7, 2017
    A new four lane road and tunnel connection is to be built in the Sri Lankan city of Kandy. The tunnel section will measure a total of 4.4km while the project also includes 1.2km of connecting roads. The project is costing over US$252 million to construct of which just over $199 million will be supplied by the Economic Development Cooperation Fund (EDCF) from South Korea.
    Read More
  • Sri Lanka road funding package secured
    November 16, 2021
    A loan facility for Sri Lanka will be used for road funding.
    Read More
  • Kuwait Fund loans Sri Lanka US$35m for bridge reconstruction
    December 11, 2014
    Kuwait Fund for Arab Economic Development has awarded a loan worth nearly US$35 million to the Sri Lankan government for reconstructing 25 deteriorated road bridges. The bridges include three in Southern Province, four in Sabaragamuwa Province, nine in Western Province, three in Northern Province, five in North Western Province and a bridge in Eastern Province. The loan comes after the Ministry of Highways, Ports and Shipping sent out an invitation to bid in October, covering eight bridges along the
    Read More
  • New bridge project for Sri Lanka
    September 30, 2013
    A bridge costing some US$321 million will be built in Sri Lanka to span the Kelani River. This new link will reduce congestion at Baseline Road and in the area of Peliyagoda. The bridge is expected to take three years to construct and will measure 415m long. The project is being funded by the Japan International Cooperation Agency (JICA), which is also funding the design detail and feasibility studies. Meanwhile the Asian Development Bank (ADB) has approved credit $75 million for the construction of roads l
    Read More

Highlighted Content