header logo
සිංහලதமிழ்
Vallibel FD
vallible LE
Latest
Sri Lanka secures US$200 million ADB loan for trade and investment development
Aug 18, 202608:12 PM
Google NewsAdd on Google
Sri Lanka secures US$200 million ADB loan for trade and investment development
Mobitel inner 1278

The government has secured a US$200 million loan from the Asian Development Bank (ADB) to support the country’s Trade, Investment and Industry Development Programme.

 

The loan agreement was signed today (18) at the Treasury in Colombo between the government of Sri Lanka and the ADB, the Ministry of Finance, Planning and Economic Development said in a statement. 

 

The agreement was signed by Dr. Harshana Suriyapperuma, the Secretary to the Ministry of Finance, Planning and Economic Development, on behalf of the government, and Shannon Cowlin, the Country Director of the ADB Sri Lanka Resident Mission, on behalf of the Asian Development Bank.

 

The financing is being provided under the ADB’s Policy-Based Lending (PBL) facility and will support the implementation of Trade, Investment and Industry Development Programme – Subprogram 1.

 

The programme was initially approved with financing of US$100 million. However, amid increased economic uncertainty linked to the ongoing Middle East crisis and climate-related shocks, the ADB agreed to provide an additional US$100 million in supplementary financing, bringing the total financing under Subprogram 1 to US$200 million, the statement noted.

 

The programme is aligned with Sri Lanka’s National Policy Framework 2025, which aims to promote a resilient, inclusive and sustainable economy.

 

Trade and investment have also been identified as key government priorities under the Major Public Investment Projects 2026–2028.

 

The overall Trade, Investment and Industry Development Programme has been designed to address key development challenges through a programme-based approach.

 

It consists of two subprogrammes. Subprogram 1 will receive US$200 million in financing, while Subprogram 2 has indicative financing of US$100 million and is expected to be implemented in 2028.

 

According to the Ministry of Finance, the policy-based loan will provide timely general budgetary support to the government while strengthening policies aimed at improving trade, investment and industrial development.

 

The Ministry of Finance, Planning and Economic Development will serve as the executing agency for the programme.

Disclaimer: All the comments will be moderated by the AD editorial. Abstain from posting comments that are obscene, defamatory or slanderous. Please avoid outside hyperlinks inside the comment and avoid typing all capitalized comments. Help us delete comments that do not follow these guidelines by flagging them (mouse over a comment and click the flag icon on the right side). Do use these forums to voice your opinions and create healthy discourse.

Comments

0
Comments are disabled

Note: Due to legal constraints, the Ada Derana Editorial team has taken a decision to disable comments on all articles concerning ongoing court procedures.

MostRead
Mobitel 1278
VideoStories
Crowds flock to IRD offices amid new TIN requirement; IRD urges public to avoid unnecessary visits

Crowds flock to IRD offices amid new TIN requirement; IRD urges public to avoid unnecessary visits

More opposition against new security bills Govt too incompetent to govern the country – Sajith

More opposition against new security bills Govt too incompetent to govern the country – Sajith

Prices of petrol and diesel increased; Bus, three-wheeler and other TUs dismayed by fuel price hike

Prices of petrol and diesel increased; Bus, three-wheeler and other TUs dismayed by fuel price hike

Govt promises substantial relief through Budget; Opposition says govt continuing to increase taxes

Govt promises substantial relief through Budget; Opposition says govt continuing to increase taxes

No fuel price revision for November? Public turns to social media amid shortage of LP gas

No fuel price revision for November? Public turns to social media amid shortage of LP gas

Sri Lanka's tax arrears near Rs. 2.1 trillion IMF calls for reforms citing collection challenges

Sri Lanka's tax arrears near Rs. 2.1 trillion IMF calls for reforms citing collection challenges

Policymakers must ensure equal access to AI - SCU Vice-Chancellor Prof. Tyrone Carlin on Hyde Park

Policymakers must ensure equal access to AI - SCU Vice-Chancellor Prof. Tyrone Carlin on Hyde Park

Courts must be independent and ensure governments act within the law - SC Justice Yasantha Kodagoda

Courts must be independent and ensure governments act within the law - SC Justice Yasantha Kodagoda

Taxpayer Identification Number to be mandatory for certain transactions from Nov. 1

Taxpayer Identification Number to be mandatory for certain transactions from Nov. 1

16-year-old hospitalised with gunshot wounds after police fire on three-wheeler in Kadawatha

16-year-old hospitalised with gunshot wounds after police fire on three-wheeler in Kadawatha

'Kassapa Thero and I visited the hotel on separate days'- Sarath Weerasekara responds to controversy

'Kassapa Thero and I visited the hotel on separate days'- Sarath Weerasekara responds to controversy

Litro Gas orders 44,000MT of LPG for November to meet increased demand

Litro Gas orders 44,000MT of LPG for November to meet increased demand

Opposition Leader visits Lunugamvehera to assess human-elephant conflict

Opposition Leader visits Lunugamvehera to assess human-elephant conflict

Suspected thief tied to a tree and assaulted by villagers dies while in police custody

Suspected thief tied to a tree and assaulted by villagers dies while in police custody

Several bank accounts of Rakitha Rajapakshe suspended;Rs. 40M found in frozen bank accounts?

Several bank accounts of Rakitha Rajapakshe suspended;Rs. 40M found in frozen bank accounts?

Lassana Flora