ADB increases assistance to Sri Lanka to 1 billion USD
The Asian Development Bank (ADB) has increased its multi-sectoral assistance to Sri Lanka from 800 million U.S. dollars to 1 billion dollars as a result of the merger of its two main windows of financing, the Finance Ministry of Sri Lanka said Thursday in a statement.
In a meeting with Sri Lanka’s Minister of Finance and Mass Media Mangala Samaraweera on Thursday, ADB Country Director of Sri Lanka Residence Mission Sri Widowati reiterated the ADB’s commitment to partnering with the Sri Lankan government in developing Sri Lanka.
Accordingly, plans are afoot to increase the assistance annually from 2017 on.
Mangala Samaraweera extended his appreciation to ADB for extending multi-sectoral assistance in various fields that brings direct dividends to the general public.
Currently, ADB provides around 400 to 500 million dollars of annual assistance for road development projects, enhancement of sanitation facilities, as well as skills and educational sector development projects in Sri Lanka.
(Xinhua)
Latest Headlines in Sri Lanka
- Police search Sagala Ratnayaka’s residence amid hunt for IGP Deshabandu Tennakoon March 13, 2025
- Another Middeniya triple murder suspect arrested at BIA while fleeing March 13, 2025
- Court of Appeal to rule on IGP Tennakoon’s arrest warrant on March 17, 2025 March 12, 2025
- Military deserter arrested for sexually assaulting doctor at Anuradhapura Hospital March 12, 2025
- Tuition teacher under investigation for student assault ignores NCPA summons March 12, 2025
as is how much does sri lanka owe the ADB.. This 10 billion odd dolars grant is it a hand out to be paid to 100 odd ministries indiscriminately and oyright frant. If not how much does sl owe the ADB and how much do we have t payback as interest