COLOMBO (News 1st): The Cabinet of Ministers on Monday (May 10) approved the resolution presented by Prime Minister Mahinda Rajapaksa in his capacity as the Minister of Finance to obtain a sum of USD 200 million to finance the Second Consolidated Highways Investment Programme, the Department of Government Information said on Tuesday (May 11).
The Government of Sri Lanka and the Asian Development Bank have entered into an agreement to obtain funds worth USD 900 million for the implementation of the Second Consolidated Highways Investment Programme.
“Accordingly, the Cabinet of Ministers approved the resolution furnished by the Prime Minister as the Minister of Finance to obtain an amount of USD 200 million, which is the third installment of the agreed sum of USD 900 million promised for financing the Second Consolidated Highways Investment Programme and enter into the relevant agreement,” the cabinet decisions released on Tuesday (11) read.
Under the Second Consolidated Highways Investment Programme, plans are in place to renovate and maintain 3,400 km of rural access roads in the Eastern, Northern, Uva, and Western provinces and to renovate 340 km of national roads between the rural community and the socio-economic centres in the aforementioned provinces.
The entire programme is to be completed by 31st of March 2027.