ADB provides $ 154.4 m for Northern Road Connectivity Project

The Asian Development Bank (ADB) has agreed to provide financial assistance amounting to US$ 154.4 million (approximately Rs. 17.8 billion) for the implementation of the Northern Road Connectivity Project.

Secretary, Ministry of Finance and Planning Dr. P.B. Jayasundera and Country Director, Asian Development Bank, Dr. Richard Vokes shake hands after signing the agreement.

The total investment cost of this project is US$ 173 million of which the Government contribution will be US$ 18.6 million equivalent.

The main objective of the project is to improve road connectivity between the Northern Province and the Southern region in Sri Lanka.

The activities covered under this project are: rehabilitation and improvement of about 170 km of National Highways comprising 108 km in Northern Province and 62 km in North Central Province; rehabilitation of about 140 km of provincial roads with rehabilitation or replacement of selected bridges in Northern Province and rehabilitation and improvement of the office of Northern Provincial Road Development Department.

The Road Development Authority under the supervision of the Ministry of Highways and the Northern Provincial Council through the Northern Provincial Road Development Department under the supervision of the Ministry of Local Government & Provincial Councils will be the project implementing agencies. The project is scheduled to be completed by June 30,2015.

The Loan Agreement for the project was signed recently at the Ministry of Finance and Planning with Secretary, Ministry of Finance and Planning Dr. P.B. Jayasundera signing on behalf of the Government of Sri Lanka and Country Director, Asian Development Bank Dr. Richard Vokes signing on behalf of the ADB. Two Project Agreements in relation to the implementation of the project were also entered into between the ADB and the Road Development Authority and Northern Provincial Council.