Rail network to be developed with ADB assistance
The Asian Development Bank (ADB)’s future direction is to improve the railway network in the country after negotiations with the state and will present a portfolio in August this year on the Kelani Valley railway network. The transport sector is the best performing sector in the ADB’s portfolio, said Ms. Sri Widowati, Resident Mission Director, Sri Lanka of the ADB addressing the media at the ADB office in Colombo recently.
Ms. Sri Widowati
She said the ADB’s current focus is also on the Colombo Port and other ports in the country. Seventy percent of its focus is on transport, energy, agriculture and the water sectors as well. Referring to ADB ties with Sri Lanka, she said the partnership with Sri Lanka is more than 50 years old.
Sri Lanka is one of the founders of the Asian Development Bank. In the first decade the ADB focused on agriculture, natural resources rural development, industry and trade but its major portfolio started in 1996 with the transport sector and continues up to now. Transport sector is the backbone of the economy. The integrated Road Investment Programme will connect thousands of roads in the villages and will improve socio-economic development of the rural population.
Secretary – Ministry of Highways and Road Development and Petroleum Resources Development, Sunil Hettiarachchi addressing the media at his Ministry said the ADB for several years had invested in projects such as road, water, sanitation and human capital development activities of Sri Lanka. Country Director Ms. Widowathi during the past 20 years the ADB has contributed tremendously for development work in the country.
The first IRoad project funded by the ADB started in 2013 and this is the second IRoad project where the ADB has handed over the projects to the contractors.