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28.11.2006

BA-CA finances infrastructure projects in Sri Lanka

The Sri Lankan Deputy Secretary to the Treasury R.A. Jayatissa and Angelo Rizzuti, head of International Trade Finance at Bank Austria Creditanstalt (BA-CA) today signed a financing agreement for a road construction project worth more than EUR 10 million. The planned road from the centre to the south of the country is intended to improve the social and economic situation of the population in this region. Fighting poverty is one of the main aims behind this project. Since the tsunami disaster in 2005 a great deal of reconstruction work has been carried out in the coastal region.

Austrian technology is held in high esteem in Sri Lanka. The contractor MCE has global experience in the construction of road bridges. Under the terms of the agreement, five turn-key bridges (Molkawa, Hirana, Weralugastotupola, Lathpandura I+II) will be built in Sri Lanka. BA-CA has contributed its extensive expertise in the area of special financing to the new project. In recent years, the partners have already collaborated on health, railway-bridge and water supply projects.

Photos of the signing on demand.

Enquiries:  Bank Austria Creditanstalt Press Office
Tiemon Kiesenhofer, Tel. +43 (0)5 05 05 52819;
e-mail: tiemon.kiesenhofer@ba-ca.com