US$ 100 m additional funds for Road Sector Assistance Project

Tuesday, 3 May 2011 00:02 - - {{hitsCtrl.values.hits}}

The Road Sector Assistance Project was launched in 2006 with the total investment of US$ 198 million for the rehabilitation of 620 km national roads and 160 km rural roads in South, Uva and North Central Provinces.

Extending the same project and ascertaining the aim of sustainable and efficient national road system, the International Development Association of the World Bank has agreed to provide additional financing of US$ 100 million to resurface and rehabilitate two road sections from Ambepussa to Dambulla (91 km) and Kanthale to Trincomalee (43 km) of the Ambepussa- Trincomalee Road (A6).

This additional financing would use to improve the access-road connecting Eastern and Northern Provinces from the capital and expects to allocate US$ 10 million to the Road Maintenance Trust Fund (RMTF) for the periodic road maintenance. A separate secretariat has been established under the Ministry of Ports and Highways to run and supervise the RMTF.

Under the supervision of the Ministry of Ports and Highways, the Road Development Authority and Secretariat for RMTF have been implementing the project and it is scheduled to be completed by 2014.

The signing of the financing agreement took place last week at the Ministry of Finance and Planning. The agreement was signed by Dr. P.B. Jayasundera, Secretary, Ministry of Finance and Planning and Diarietou Gaye, Country Director for Sri Lanka and Maldives of the World Bank, on behalf of the Government of Sri Lanka and the World Bank respectively.