Two banks pledge infrastructure funding to Sri Lanka ahead of presidential polls

The Deutsche Bank AG (London) and the Bank of Tokyo-Mitsubishi UFG Ltd., has agreed to provide a credit facility of 162 million U.S. dollars to the Sri Lankan government, a statement said here on Monday.

The funds are to finance the construction and rehabilitation of 537 rural bridges around the country.

The Finance Ministry said the construction of these bridges will immensely facilitate the creation of opportunities for rural and estate communities residing in remote areas connecting with a number of other villages.

"Furthermore, it will link rural communities with mainstream development and ensure equal distribution of countries between the urban, rural and estate sector," it added.

This project will be implemented by the Economic Development Ministry.

Sri Lanka's government has stepped up public sector investment ahead of snap presidential elections widely expected to be held in January 2015.

The island has been undergoing massive infrastructure development since the end of a brutal three-decade war in 2009.