ADB funds US $ 154.4 m for Northern road project

The Asian Development Bank (ADB) will provide financial assistance of US $ 154.4 million (Rs 17.8 billion) to implement the Northern Road Connectivity Project.

The total cost of the project is US $ 173 million of which the Government contribution will be US $ 18.6 million. The Loan Agreement for the project was signed at the Finance and Planning Ministry. Finance and Planning Ministry Secretary Dr. P B Jayasundera signed the agreement on behalf of the Government and ADB Country Director Dr Richard W A Vokes, signed on behalf of the ADB.

Two Project Agreements in relation to the implementation of the project were also entered into between the ADB and the Road Development Authority and NP Council.