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Concessional loan of US$ 989 million from the China's EXIM Bank for Central Expressway Project

The Export- Import Bank of China (EXIM Bank) has agreed to provide a concessional loan amounting to US$ 989 million covering 85% of the contract price, for the Central Expressway Project - Section 1 from Kadawatha to Meerigama.  

The total estimated cost of the project is US$ 1,164 million. Furthermore, this loan is the single largest loan approved by the EXIM Bank for Sri Lanka, the Ministry of Finance said in a statement.    

Since, the implementation of the Section 2 of the Central Expressway has already been commenced with the financial assistance of local commercial banks, this loan facility from China EXIM Bank will facilitate the speedy implementation of Kadawatha –Meerigama section ensuring the connectivity of the expressway network up to Kurunagala.
 
Accordingly, the loan agreement was signed today (22) by Dr. R H S Samarathunga, Secretary, Ministry of Finance on behalf of the Government of Sri Lanka and Cheng Xueyuan, Ambassador of the People’s Republic of China, Embassy of China in Sri Lanka on behalf of the Export – Import (EXIM) Bank of China at the Ministry of Finance.

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