China’s state-owned Exim Bank has put on hold a US$ 51 million loan required for the construction of the first phase of the Central Expressway, The Sunday Times reported.
The release of the funds from the Exim Bank of China has been mainly suspended in view of the current economic crisis in the country and the Sri Lanka Government’s decision to suspend repayment of foreign loans, Treasury sources told the Sunday Times.
The Central Expressway Project has been divided into four sections: Section 1 from Kadawatha to Mirigama is approximately 37 km, Section 2 from Mirigama to Kurunegala is approximately 39.7 km while the stretch from Mirigama to Ambepussa is approximately 9.1 km, Section 3 from Pothuhera to Galagedara is approximately 32.5 km, and Section 4 from Kurunegala to Dambulla is approximately 60.3 km.
The Mirigama-Kurunegala section of the Central Expressway was opened for public early this year. (NewsWire)