The Asian Development Bank (ADB) is actively involved in discussions with the government to act as a guarantor for a commercial loan for additional guarantee operations for the construction of the Southern Highway.
At a media briefing this past week, ADB Country Director Dr.. Richard Vokes said it is an ADB guarantee backed by a sovereign guarantee for the completion of the highway.
Dr. Vokes added that the ADB has also put together a programme of US$5 billion in extra lending for developing Asian countries. He said the ADB is also involved in reconstruction and rehabilitation discussions with the government for the North. Dr. Vokes also said the ADB is looking at how to keep ongoing programmes on track and introduce more programmes in the future. For new projects, the government’s share has come down significantly.
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