Sri Lanka's Minister of Transport, Bandula Gunawardena, revealed on Friday plans to kickstart the repair of 600 road development projects following the finalization of debt restructuring and ongoing negotiations with foreign creditors. The Asian Development Bank has committed $60 million to fund the initiative aimed at bringing roads across the country into usable condition.
Gunawardena addressed the media during a press briefing, acknowledging the country's current challenges in repaying foreign loans, which have resulted in a temporary halt in the construction and renovation of vital transportation infrastructure, including roads and railways.
Highlighting a specific case, Gunawardena mentioned an incomplete flyover in Kohuwela, constructed with aid from Hungary. He explained that despite discussions with Hungarian officials, no further financial support would be extended until the debt restructuring process was successfully completed.
The Minister emphasized the impact of stalled projects, pointing out that Hungary had initially allocated funds for two flyovers – one in Gatambe and another in Kohuwela – both of which remain incomplete due to the financial constraints caused by Sri Lanka's default on international debt.
