SASEC Elevated Port Highway in Sri Lanka Gets ADB Support
17 January 2019
Sri Lanka’s President Maithripala Sirisena and Mr. Takehiko Nakao, President, Asian Development Bank (ADB), signed three agreements worth $445 million for projects in higher education and transport, and a technical assistance loan in the urban sector. The agreements were signed during President Sirisena’s visit on 17 January 2019 to ADB headquarters in Mandaluyong City, Philippines.
The agreements include a $300-million loan to construct about 5.3 kilometers of an elevated toll highway linking Colombo's international port and the country’s expressway network under the South Asian Subregional Economic Cooperation (SASEC) Port Access Elevated Highway Project. The project will ease traffic congestion, improve connectivity, and facilitate trade logistics in Sri Lanka.