The Government of Sri Lanka has successfully concluded discussions with the Asian Development Bank (ADB) to mobilise a loan of USD 90 million under the Second Integrated Road Investment Programme (iRoad 2) – Tranche 5. The programme aims to improve road transport efficiency by enhancing connectivity between rural communities and key socioeconomic centres, while strengthening the institutional capacity of national road agencies.
The ADB loan will support the upgrading of approximately 500 kilometers of rural access roads to all-weather, climate-resilient standards, designed to be inclusive for the elderly, women, children, and persons with disabilities. The programme will also facilitate the rehabilitation of 21 kilometers of national roads and the maintenance of 100 kilometers of rural access roads.
The Ministry of Transport, Highways and Urban Development will serve as the Executing Agency, with the Road Development Authority (RDA) acting as the Implementing Agency.
The Loan Agreement was formally signed yesterday at the General Treasury, Colombo. Dr. Harshana Suriyapperuma, Secretary of the Ministry of Finance, Planning and Economic Development, signed on behalf of the Government of Sri Lanka, while Takafumi Kadono, Country Director of the ADB Sri Lanka Resident Mission, signed on behalf of the Asian Development Bank.
from The Island https://ift.tt/NbMoyD0
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