Post-war road development projects receive French boostDecember 22, 2011, 9:56 pm
In line with an ongoing accelerated post-war project to develop the road network, the Treasury on Dec. 20 finalized an agreement with France to finance the widening and reconstruction of bridges.
French Ambassador Ms Christine Robichon end Treasury Chief Dr. P. B. Jayasundara signed the agreement at the Ministry of Finance and Planning.
China, India, Japan and UK are involved in both road and railway development projects.
A French embassy spokesperson said: "Sri Lanka is a recipient of The Emerging Country Fund (RPE), governed by the French Ministry of Economy, Finance and Industry, beside operations funded by the French Development Agency (AFD). The RPE fund has been utilized to assist Sri Lanka after the Tsunami in 2004. The Trincomalee Water Supply Project and the provision of heavy medical equipment to several public hospitals (oxygen concentrators, operating theatres, equipments for cardiology and radiology) are currently being implemented under this fund."
"The new agreement between France and Sri Lanka, under the Emerging Country Fund, opens a new area of assistance, no longer linked to post tsunami projects, but dedicated to contribute to Sri Lanka’s reconstruction and economic development," she said.
"The new concessionary loan of 22 050 000 euros ($ 31 million) will be used to supply 46 metallic bridges to the Road Development Authority to be distributed island wide. This priority project of the Sri Lankan Government will be realized on a co-financing, the cost of civil works being borne by the Sri Lankan Government. The French part of the financing is a French Treasury loan at a very concessional rate on a long term basis."
Do you like to read online news?
Last Updated Aug 25 2016 | 12:00 pm