South Asia Subregional Economic Cooperation Port Access Elevated Highway Project (ADB-50299-001)

Countries
  • Sri Lanka
Where the impacts of the investment may be experienced.
Specific Location
Colombo
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Sep 27, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Sri Lanka
The holder of the loan, grant, or other investment.
Sectors
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services, Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 301.75 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 300.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 644.48 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Nov 26, 2018

Disclosed by Bank Sep 28, 2018


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Project Description

According to the ADB, "the proposed project will finance the construction of about 5.3 kilometers of an elevated toll highway with related facilities between the New Kelani Bridge (NKB) and Galle Face in central Colombo. It will provide a direct link to the city center and the port from the Colombo- Katunayake Expressway via the NKB, and then extend the expressway network into the city. The project will help alleviate traffic congestion in Colombo's densely populated areas, improve last-mile connectivity between the country's expressway network and Colombo's international port, provide better logistics services for freight operations, and facilitate regional trade."

Investment Description
  • Asian Development Bank (ADB)

Co-financing:
Japan International Cooperation Agency US$ 342.73 million

Contact Information

Responsible ADB Officer Nakai, Kanzo
Responsible ADB Department South Asia Department

Executing Agencies 
Ministry of Highways and Road Development
3rd Floor, Sethsiripaya
Battaramulla, Sri Lanka Ministry of Ports and Shipping
WEBMAIL@SLPA.LK

Sri Lanka Ports Authority
#19, Chrurch Street, Colombo 01,

Sri Lanka Road Development Authority
RDAHADB@SLTNET.LK
Sethsiripaya, Sri Jayawardenapura
Kotte, Battaramulla

Sri Lanka Sri Lanka Customs
No.40, Main Street, Colombo 11, Sri Lanka

Sri Lanka Ports Authority
CHAIRMAN@SLPA.LK
19 Chaithya Road, Colombo 1, Sri Lanka

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main