ADB helps finance $360m elevated highway project in Colombo

The Asian Development Bank has agreed to provide a $300 million loan to help finance the construction of about 5.3km of elevated toll highway with related facilities between the New Kelani Bridge and Galle Face, in central Colombo, Sri Lanka. The new highway is expected to ease traffic congestion, improve connectivity, and facilitate trade logistics in the country.

The total cost of the project is $360.2 million, with the government of Sri Lanka contributing $60.2 million. The project is expected to be completed by mid-2025.

ADB will also provide a $500,000 technical assistance for the Expressway Operations Improvement component of the project, which will strengthen the operational capacity of the expressway regarding its toll rate policy and the ETC system. The Japan Fund for Poverty Reduction, financed by the government of Japan, will also provide a $1.25 million grant to support trade logistics facilitation for customs modernisation.