ADB strategy to develop infrastructure

The Asian Development Bank (ADB) has drawn up a strategy to provide around US$ 250 million per annum between 2008-2010 primarily for infrastructure development activities in the country.

The bank has identified roads and highways, water supply and sanitation and the energy sector of the country as key areas for funding.

The ADB will support the government's Eastern development program by contributing to the rehabilitation and reconstruction activities in the province.

Country Director ADB, Richard Vokes said the bank's objective in funding development programs is to help the government to come up with a sustainable development program for the country.

"The ADB will continue to support the post tsunami reconstruction activities focused on livelihood development, reconstruction of schools, rural electrification, water supply and sanitation and development of the road network", he said.

The Country Director said the work on the four-lane Southern Highway project is ongoing and the target date for completion is 2010.

With the development of the southern transportation system the fisheries, agricultural and tourism sectors will get a boost. A good transportation network is essential to launch development activities", Vokes said.

The ADB which was set up in 1966 with Sri Lanka as a founding member commenced operations in the country in 1968. The bank has 40 ongoing projects in the country.

LF