Sri Lanka Secures $90 Million ADB Loan for Road Development

The Government of Sri Lanka has secured a US$90 million loan from the Asian Development Bank (ADB) for the Second Integrated Road Investment Program (iRoad 2) – Tranche 5.

The main goal of this loan is to improve road transport efficiency by enhancing connectivity between rural communities and key socioeconomic centers, while also boosting the institutional capacity of national road agencies.

Key features of the program:

• Road Upgrading: The funds will support the upgrading of approximately 500 kilometers of rural access roads to all-weather, climate-resilient standards. These roads will also be inclusive, designed to be friendly to the elderly, women, children, and persons with disabilities.
• Rehabilitation & Maintenance: The program will also facilitate the rehabilitation of about 21 kilometers of national roads and the maintenance of an additional 100 kilometers of rural access roads.

The Loan Agreement was formally signed at the General Treasury, with signatories including Dr. Harshana Suriyapperuma, Secretary of the Ministry of Finance, Planning and Economic Development, and Mr. Takafumi Kadono, Country Director of the ADB Sri Lanka Resident Mission.

Source: 

https://bizenglish.adaderana.lk/sri-lanka-secures-90-million-adb-loan-for-iroad-2-tranche-5/