Central Expressway Project gets China’s Exim Bank funding soon

Funding from China’s Export-Import (Exim) Bank could resume by September or October to continue the construction of the long-delayed Central Expressway Project (CEP), the Road Development Authority (RDA) announced.

RDA Chairman T. Paskaran confirmed that negotiations with the bank were ongoing, in the aftermath of disbursements being suspended due to Sri Lanka’s economic crisis.

“Negotiations with the donor are currently ongoing and there is a strong likelihood that funding could resume by September or October,” stated Paskaran.

The suspension of these disbursements was the primary reason for the significant delays that have plagued the ambitious infrastructure project.

In the event of continued delays in foreign funds, the Government was prepared to utilise local funds as a contingency, Paskaran revealed.