The Asian Development Bank (ADB) has launched a $40 million emergency assistance facility under its Trade and Supply Chain Finance Program (TSCFP) to support Sri Lanka’s recovery from the devastation of Cyclone Ditwah.
The facility will help finance essential imports, including food, medicines, and critical relief supplies, as the country rebuilds damaged infrastructure and livelihoods.
This new facility is in addition to the $200 million in existing ADB TSCFP capacity for Sri Lanka. To rapidly scale up support, the program mobilized its longstanding risk partners, Munich Re and Swiss Re, to provide the additional backing required. The financing will be channeled through ADB TSCFP’s network of six partner banks in Sri Lanka, ensuring swift delivery to meet urgent needs.
“Cyclone Ditwah has severely disrupted access to vital goods, compounding existing challenges,” said ADB Country Director for Sri Lanka Takafumi Kadono. “By partnering with Munich Re, Swiss Re, and our local banks, we are ensuring that critical supply chains for essentials remain operational. This support is crucial for immediate relief, longer-term recovery, and rehabilitation.”
Recent cyclone-induced heavy rains and massive flooding have caused extensive damage to infrastructure, housing, and agricultural land across the country. This has intensified the need for a sustained flow of relief goods and medical supplies to affected communities.
The initiative sustains ADB’s ongoing commitment to providing targeted trade finance during crises. It builds on ADB TSCFP’s prior support for vaccine imports during the coronavirus disease (COVID-19) pandemic and emergency trade finance during Sri Lanka’s economic crisis, demonstrating a sustained commitment to maintaining trade resilience.
Backed by ADB’s AAA credit rating, TSCFP delivers guarantees and loans through more than 200 partner banks to support trade and create import and export opportunities for businesses. The program is a key partner in helping diversify trade both internationally and intra-regionally within Asia and the Pacific. Since 2009, it has supported over $74 billion in trade, focusing on sectors that promote sustainable growth and regional integration.
ADB is a leading multilateral development bank supporting inclusive, resilient, and sustainable growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—50 from the region.
Source: ADB
--Agencies
