The Asian Development Bank (ADB) has agreed to increase the allocation approved for Sri Lanka for this year from USD 380 million to USD 480 million and to promptly release USD 200 million in view of the prevailing situation. 

This was conveyed during a meeting held this afternoon (24) at the Presidential Secretariat between President Anura Kumara Dissanayake and a delegation led by President of the Asian Development Bank (ADB), Masato Kanda, who is currently on an official visit to Sri Lanka, according to the President’s Media Division (PMD). 

Extensive discussions were held on how the ADB could support Sri Lanka in achieving its future development objectives. During the meeting, the President expressed the Government’s expectation of ADB support for the country’s post-disaster recovery programme. 

The ADB President commended the Government’s efforts to maintain economic stability despite the post-disaster context and the prevailing conflict situation in the Middle East. 

He also assured that the ADB stands ready to provide any necessary assistance to restore infrastructure damaged by Cyclone Ditwah, the statement said. 

President Dissanayake expressed appreciation for the assistance extended thus far by the ADB in response to the Cyclone Ditwah disaster, as well as for its broader development cooperation with Sri Lanka. The President also noted that maintaining economic stability while achieving economic growth remains a key objective of the present Government. 

The ADB President stated that he had the opportunity to observe first-hand the damage caused by Cyclone Ditwah and affirmed the Bank’s readiness to support programmes aimed at preventing similar situations in the future, including the protection of water systems in the central highlands. 

The ADB delegation included Director General of the South Asia Department, Sona Shrestha; Chief Advisor, Office of the President, Keiichiro Inui; Senior Advisor, Manisha Pradhananga; and other senior officials.

--PMD