Sri Lanka’s Bank of Ceylon to finance Rs 3.9 bn road
06 Jun, 2013 14:51:42
June 6, 2013 (LBO) – Sri Lanka’s state-run Bank of Ceylon will finance 48.2 kilometre road at a cost of 3,915 million rupees, the state information office said.
The cabinet of ministers had given the nod for the proposal by the ministry of finance to enter into a loan agreement with the bank.The road will be built by Road Development Authority.
The RDA has borrowed from both state and private banks to finance road building under a Treasury guarantee.