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JICA to fund Colombo Light Rail, Sri Lanka [free access]

March 11, 2019

The Japan International Cooperation Agency (JICA) has signed an agreement with the Government of Sri Lanka to provide official development assistance (ODA) of USD1.8 billion to develop a light rail line in Colombo. The funds will be used for the construction of the line as well as for the procurement of rolling stock and electrical and mechanical (E&M) equipment.

 

The loan has an annual interest rate of 0.1 per cent for non-consulting services and 0.01 per cent for consulting services. It has a term of 40 years and a grace period of 12 years.

 

The line will span 15.7 km (elevated) from Fort to Maradana, covering 16 stations. The line will also offer multi-modal integration with the bus stops and stations of Sri Lankan Railways. Passenger services are expected to commence by 2026.