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Sri Lanka President signs three loan agreements totaling $ 455 mn with ADB

Sri Lanka's President Mr. Maithripala Sirisena made his first visit to the Asian Development Bank (ADB) headquarters in Manila today while conducting a state visit to the Philippines and met with ADB President Takehiko Nakao.During the visit, Mr. Sirisena and Mr. Nakao discussed development challenges faced by Sri Lanka and ADB's role in helping address them, and the ADB agreed to provide US$ 445 million assistance to Sri Lanka for three major projects.The President and ADB Chief signed three loan agreements totaling $455 million for projects in higher education and transport as well as a technical assistance loan in the urban sector.The three loans signed today include $300 million to finance construction of about 5.3 kilometers of an elevated toll highway to link Colombo's international port with the country's expressway network under the South Asian Sub-region Economic Cooperation (SASEC) assistance for the Port Access Elevated Highway Project (PAEHP).......

 

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