The Asian Development Bank’s (ADB) Board of Directors has approved financing of up to $900 million for a program that will upgrade Sri Lanka’s road network to connect vast rural populations to jobs and services.
“Improving Sri Lanka’s poor rural transport infrastructure is key to achieving the government’s development goals, which include generating 1 million jobs, boosting income levels, and developing the rural economy,” said Kanzo Nakai, an ADB Senior Transport Specialist.
“ADB’s Second Integrated Road Investment Program aligns with the government strategy to fully connect rural development centers with upgraded rural access roads in an area that is home to about 10 million people.”
Sri Lanka’s economy has grown at an annual average of 6% since 2003, helping to slash poverty from 22.7% in 2002 to 6.7% in 2012-2013. Much of this progress has taken place in rural areas, where 82% of the population lives.
But Sri Lanka still faces several challenges, with poverty in some provinces and districts remaining as high as 20%. Even in comparatively better off provinces, large segments of the population live close to the poverty line and are highly vulnerable.
Progress is hindered by inadequate transport infrastructure, particularly badly maintained provincial and local roads.
(ADB News)
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