Timor-Leste: Road Network Upgrading

30 March 2012 - The Asian Development Bank (ADB) has approved the following loan:

Description:

The project will help Timor-Leste continue the upgrade of its national road network and achieve one of the immediate priorities of the Strategic Development Plan 2011-2030 by completing the upgrade of the main road link to Indonesia, the country's largest trading partner. Upgraded roads will stretch 59 km from Dili to Liquica and Tibar to Gleno. Preparations for the upgrade of a further 81 kms link between the country’s north and south will also be completed. Road maintenance will be strengthened and upgraded roads will be climate proofed.

Amount: $30,850,000 from ADB’s ordinary capital resources for a term of 25 years, including a grace period of 5 years, as well as SDR5,905,000 from ADB’s Special Fund resources, with interest charged at the rate of 1.0% per annum during the grace period and 1.5% per annum thereafter for a term of 32 years, including a grace period of 8 years.

Project ID: 45094

For more information: http://www.adb.org/Projects/project.asp?id=45094