Business
Rural road connectivity to receive upgrade with ADB’s US $ 200mn assistance
Sri Lanka’s rural road network will receive an upgrade in the coming months, with the government having signed a US $ 200 million loan agreement with the Asian Development Bank (ADB), on Friday.
The new loan agreement, to support the roll out of the Second Integrated Road Investment Programme tranche three, will continue the assistance of ADB to upgrade Sri Lanka’s rural road network connecting vast rural populations to jobs and services.
Alongside the loan agreement, a project agreement was also inked between ADB and the implementing agency, the Road Development Authority.
The project will be implemented, despite the pandemic, while adhering to strict health guidelines and is expected to support the post-pandemic economic recovery in rural areas.
ADB said with the rural road network upgrade, the targeted areas will receive support through job opportunities and by obtaining services from rural populations, such as the hiring of vehicles, buildings, equipment, etc.
“Access to markets and business opportunities, especially along agricultural value chains, can be significantly improved with better transport infrastructure and can serve as the key to poverty reduction and shared prosperity in rural areas,” said ADB Country Director for Sri Lanka Chen Chen in a statement to the media.
He pointed out that economic growth is hindered by poor transport infrastructure, particularly some poorly maintained provincial and local roads.
Reflecting similar sentiments, Treasury Secretary S.R. Attygalle stressed that providing all-weather road access would help link rural communities to socioeconomic centres in Sri Lanka, thereby enabling rural communities to reap and enjoy the fruit of inclusive economic growth.
“This is very much in keeping with the government’s development policy and will contribute to the government’s development plan,” he added.
The freshly signed loan agreement is the third of five tranches under the Second Integrated Road Investment Programme, which was approved by ADB’s board of directors in 2017.
The programme will deliver a total financing of US $ 900 million to rehabilitate and improve about 3,400 kilometres (km) of rural access roads and 340 km of national roads in the Eastern, Northern, Uva and Western provinces.
It will improve the capacity of the country’s road agencies on road safety, maintenance, research, road design and construction. The programme is due for completion in 2027.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
