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815 million US dollars from the ADB

ITN News Editor
By ITN News Editor April 30, 2019 19:32

815 million US dollars from the ADB

The Ministry of Finance says the Asian Development Bank provides concessionary project loans to Sri Lanka annually amounting to approximately US dollar 800 million and there are already eight funding proposals in the pipeline to the tune of US dollars 815 million for the year 2019.

Of which the Port access elevated highway with US dollar 300 million funding is ongoing now. The negotiations for the Railway efficiency improvement project loan of US Dollar 160 million will be held in Colombo in May. This project is aimed at improving the railway signaling system and the age-old ticketing system.Minister of Finance Mangala Samaraweera will lead the Sri Lankan Delegation to the 52ndAnnual Meeting of the Board of Governors of the Asian Development Bank to be held in Nadi, Fiji from 2nd to 5th May 2019.The Annual Meeting of the ADB Board of Governors provide opportunities for member governments to interact with ADB staff, nongovernment organizations and representatives of observer countries, international organizations, and the private sector. ADB’s annual meetings have become a premier forum for the discussion of economic and social development issues in Asia and the Pacific.

ITN News Editor
By ITN News Editor April 30, 2019 19:32

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