A loan facility for Sri Lanka will be used for road funding.
Sri Lanka’s roads will benefit from a new funding package – image courtesy of © Loop Flag, Dreamstime.com
A loan worth US$500 million will pay for road maintenance and improvements in Sri Lanka. The International Bank for Reconstruction and Development (IBRD) is providing the loan to the Sri Lankan Government.
This will be used to help pay for Sri Lanka’s planned Inclusive Connectivity and Development Project (ICDP). The aim of the ICDP is to build new roads and improve existing links. In all work will be carried out to 3,000km of provincial and rural roads.
The work will help boost access to rural areas in Sri Lanka and aid economic development. Maintenance will be carried out to improve existing rural roads while a number of new connections will also be constructed.
