Rs. 143bn foreign loan for Central expressway

COLOMBO (News 1^st) - Cabinet approval has been granted to obtain a loan from a Japanese bank for the third phase of the Central Expressway. Co-Cabinet Spokesperson, Minister Gayantha Karunathilaka said, a proposal submitted by the Prime Minister in his capacity as the Minister of National Policies and Economic Affairs to enter an agreement with a Japanese Bank for funding of 100 billion yen. The amount has been approved for the construction of a 32.5-kilometer section of the central expressway from Pothuhera to Galagedara, said Minister Gayantha Karunathilaka. He further noted that this expressway will expand the expressway network in the country and will connect the south to the central region of the country. Our country is probably the only country in the world with ministers who are proud to say look we are obtaining a loan to build a highway. What is the loan amount? 100 billion Japanese Yen. Converted into Sri Lankan Rupees becomes Rs. 143.54 billion. Only 86.43% of the loan is effective.

The people who are responsible for granting the approvals will be the Cabinet of Ministers.

But those who are responsible to pay back these loans will be the general public.