WASHINGTON, July 17, 2008- The following project was approved today by the World Bank’s Board of Executive Directors:
IDA Credit: US$55 million
TERMS: Maturity= 20 years; Grace= 10 years
Project Description: This project supports the government of Sri Lanka’s efforts to lower transportation costs through sustainable delivery of an efficient national road system that serves the needs of road users and the Sri Lankan public at large. The additional finance will be mostly used to cover cost-overruns mainly due to the unprecedented oil price increase in the world market that has led to the escalation of prices in oil-based materials.
Media Contact
Erik Nora at(202)458-4735
enora@worldbank.org
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