Sri Lanka, Aug. 16 -- The Asian Development Bank (ADB) has approved a $160 million loan to modernize the operations and improve the efficiency of Sri Lanka Railways, the country's railway operator, by upgrading its infrastructure and technical capacity. This is ADB's first loan for Sri Lanka's railway sector, the bank said in a statement.
"There is a need to improve public transportation in Sri Lanka to serve a growing population, expected to reach 25 million by 2050," said ADB Transport Specialist Johan Georget."An improved railway system will help promote the development of services and industries across Sri Lanka, as well as put the railway as a viable transportation mode of choice for the people. This is particularly the case in suburb...