Published
18 hours agoon
The Asian Development Bank (ADB) has agreed to increase the funding approved for Sri Lanka this year from USD 380 million to USD 480 million, and to fast-track the release of USD 200 million in view of the prevailing situation.
This was disclosed during a meeting at the Presidential Secretariat between President Anura Kumara Dissanayake and a delegation led by ADB President Masato Kanda, who is currently on an official visit to Sri Lanka.
During the meeting, extensive discussions were held on how the Asian Development Bank could support Sri Lanka in achieving its future development objectives.
President Dissanayake stated that the government expects ADB assistance for its programme to rebuild the country following the recent disaster situation.
ADB President Masato Kanda commended the government’s efforts to maintain economic stability despite the post-disaster conditions and the current conflict situation in the Middle East. He said the ADB is prepared to provide all necessary support for rebuilding infrastructure damaged by Cyclone Ditwah.