Colombo, Jan 14: The Asian Development Bank has signed the first part of an 80 million-dollar loan agreement to help Sri Lanka rebuild its war-ravaged northeastern regions, both sides announced here.
The first tranche of 50 million dollars is to be released after yesterday's signing of the agreement and is to be spent on rebuilding infrastructure, including 500 kilometres of highways in embattled regions.
The deal went ahead despite the impasse in the island's Norwegian-brokered peace process and the bitter political power struggle between the President and the Prime Minister, who differ on handling talks with tiger rebels.
"Despite the present difficulties, and the complex problems that lie ahead, we are confident that all parties to the peace process are committed to ending this devastating conflict," ADB country representative John Cooney said.
Bureau Report
