Rs. 14.5 b from Netherlands to build 200 rural bridges

Thursday, 17 October 2019 02:55 - - {{hitsCtrl.values.hits}}

Finance Ministry Secretary Dr. R.H.S. Samaratunga and Rabobank Director Han Bartelds with Ambassador of the Netherlands to Sri Lanka Tanja Gonggrijp at the signing ceremony

Finance agreement with Rabobank of the Netherlands to also build national vocational institute in Hingurakgoda

Two agreements have been signed between the Sri Lankan Government and Rabobank of the Netherlands, amounting to Rs. 14.1 billion (€ 70.7 million) for the construction of 200 bridges in rural areas and the establishment of a national vocational training institute in Hingurakgoda, Polonnaruwa.

.The financing agreement was signed by Finance Ministry Secretary Dr. R.H.S. Samaratunga and Rabobank Director Han Bartelds, in the presence of the Ambassador of the Netherlands to Sri Lanka, Tanja Gonggrijp, at the Ministry of Finance.

The Government has accorded great priority to connectivity improvement within the country with a view to providing the full benefits of mainstream development activities in the country to remote villages as well.

The ‘Construction of Rural Bridges’ project, aimed at connecting rural areas to more developed regions through the construction of bridges, was initiated by the Government a few years ago.

A large number of underdeveloped villages will be provided with transport facilities through this program. The Ministry of Internal and Home Affairs and Provincial Councils and Local Government has identified around 200 bridges to be constructed with the concessional financial assistance of the Netherlands as a part of the program.

The move fits in with the Government’s recognition that the provision of quality vocational education and training to the youth, in order to create productive employment opportunities, is essential for the social and economic development of the country.

One of the chief priorities of the Sri Lankan Government is to ensure the participation of competent individuals in the country’s development. In this regard, the Government is willing to introduce knowledge mechanisms to provide required competencies

The Rabobank of the Netherlands will provide two Export Credit Facilities to cover 75% of each contract cost. The remaining 25% of each contract cost will be financed through two grants extended by the Development Related Infrastructure Investment Vehicle (DRIVE) of the Dutch Government.

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