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ADB loan to develop roads in the North

Jun 19, 2010 11:52:08 AM - itnnews.lk

The Asian Development Bank has agreed to grant a major line of credit for the development of the Northern road network.

The Bank’s Board of Directors reached this agreement yesterday. Accordingly, Sri Lanka will receive a concessionary loan of over 154 Million US dollars to re-develop the Northern road network that was ravaged due to the war. The Sri Lankan Government has mooted a mega programme to uplift civilian life in the North and seek the contribution of the North to the economic process.

The Asian Development Bank’s objective is to support this exercise. It is hoped to develop 140 kilometres of the rural road network in the Mannar and Vavuniya districts and reconstruct 170 kilometres of the main highways in the North. The entire project is due to be completed by 2015.