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Sunday, 16 August 2009

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Lanka optimistic on ADB grant

The Asian Development Bank (ADB) is reviewing the request made by the Sri Lankan government for support from the Bank's Counter cyclical Support Facility (CSF) set up to help developing member countries hit by global recession.

ADB Country Director Sri Lanka Resident Mission, Richard Vokes said the ADB has additional funds but whether they could be granted immediately to Sri Lanka is yet to be discussed.

"The ADB's program in Sri Lanka is focused on infrastructure development. The bank will support the acceleration of reconstruction and rehabilitation activities in the Northern and Eastern provinces", Vokes said.

The bank is expecting to support projects that were identified for rehabilitation and reconstruction in the conflict affected areas.

Vokes said, funds will be utilised for road development, water supply, power sector and improvement of healthcare facilities in the liberated areas. These components will be included in other national projects.

ADB proposed lending Sri Lanka a sum of US$ 200 to Us$ 300 million following the bank's general capital increase early this year.

The Southern Expressway and the Colombo South Harbour Expansion projects are ADB funded projects.

 

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