Second Integrated Road Investment Program-Tranche 3 (ADB-50301-004)

Countries
  • Sri Lanka
Geographic location where the impacts of the investment may be experienced.
Specific Location
Nationwide, Province of Uva
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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Sep 27, 2021
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Sri Lanka
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 200.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 200.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 215.72 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Nov 10, 2021

Disclosed by Bank Apr 13, 2021


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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to ADB, the proposed project is an investment for a $900 millon multi-tranche financing facility (MFF) that seeks to improve access to the road network in Sri Lanka and to support its rural economy and social development. Through the project, 3,400 km of rural access roads will be upgraded to all weather-standard; 340 km of national roads in Eastern, Northern, Uva, and Western provinces will be rehabilitated and maintained; capacity of road agencies will be improved with respect safeguards, road safety, maintenance, research capacity, and road design and construction.

Tranche 3 of this project will finance the slice of projects identified during the appraisal of the MFF using 'time-slice approach'. This approach gives ADB and the government flexibility in funding large scale projects through long-term works and consultant contracts (https://www.adb.org/sites/default/files/linked-documents/46452-002-sd-03.pdf).

This program is in line with ADB's country partnership strategy for Sri Lanka, 2018-2022 (https://www.adb.org/sites/default/files/institutional-document/342216/cps-sri-2018-2022.pdf) which aims to " strengthen the drivers of economic growth and improve the quality of growth". The bank states that the 'Second Integrated Road Investment Program' will achieve its objectives "by establishing fully connected rural development centres with upgraded rural roads, targeting the three economically lagging provinces of Eastern, Northern, and Uva as well as Western Province".

-As of 30 August 2021, physical progress is 50%. 

 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
Responsible ADB Officer Nanayakkara, Aruna Uddeeptha
Responsible ADB Department South Asia Department
Responsible ADB Division Sri Lanka Resident Mission
Executing Agencies
Ministry of Highways
Mr. W. A. Karumasena
SEC@MOHSL.GOV.LK
Maganeguma Mahamedura,
8th Floor, Denzil Kobbekaduwa Mawatha,
Koswata,
Battaramulla, Sri Lanka

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.adb.org/forms/request-information-form

ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals

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.

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