Second Integrated Road Investment Program-Tranche 1 (ADB-50301-002)

Countries
  • Sri Lanka
Where the impacts of the investment may be experienced.
Specific Location
Eastern, Northern, Uva, and Western provinces
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
Oct 6, 2017
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)
Loan
The categories of the bank investment: loan, grant, etc.
Loan Amount (USD)
$ 150.00 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)
$ 172.10 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Oct 25, 2017

Disclosed by Bank Oct 9, 2017


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Project Description
According to bank documents, the investment program will improve the accessibility of the road network in Sri Lanka's rural areas, and thereby increase the involvement of the rural population in nationwide economic and social development. It will upgrade and maintain about 3,400 kilometers (km) of rural access roads to an all-weather standard; rehabilitate and maintain to a good condition about 340 km of national roads in Eastern, Northern, Uva, and Western provinces; and improve the capacity of road agencies with respect to safeguards, road safety, maintenance, research capacity, and road design and construction. Tranche 1 will finance the first slice of the projects.
Investment Description
  • Asian Development Bank (ADB)
Loan 3579-SRI: Second Integrated Road Investment Program-Tranche 1 Ordinary capital resources US$ 90.00 million Loan 3580-SRI: Second Integrated Road Investment Program-Tranche 1 concessional ordinary capital resources lending / Asian Development Fund US$ 60.00 million Counterpart US$ 22.10 million
Contact Information
Ministry of Higher Education and Highways 8th Floor, Denzil Kobbekaduwa Mawatha, Koswata, Battaramulla, 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