The construction of the Colombo-Kandy Central Expressway is to be implemented in four phases by dividing its full length into four parts according to the recommendations of the Cabinet Subcommittee on Economic Affairs.

The first phase would be from Kadawatha to Meerigama with the loan assistance from China EXIM Bank. The second would be the Meerigama to Kurunegala stretch (with the Ambepussa link) which is to be funded by the Asian Development Bank

The stretch from Pothuhera to Kandy which would be the third phase will be funded by the loan assistance from the Japan International Cooperation Agency and the final and fourth phase of the stretch from Kurunegala to Dambulla would be handled by local contractors through funds collected through a local bond issue.

The proposal by Prime Minister Ranil Wickremesinghe to approve the appointment of Procurement Committees, Negotiation Committees, and Loan negotiations on the recommendations of the Cabinet Subcommittee on Economic Affairs to accelerate the commencement of this project was approved by the Cabinet.