ADB to allocate over USD 200 mn for tourism development in Sri Lanka

The Asian Development Bank is preparing a project to finance the tourism space in Sri Lanka which will support policy actions to introduce reforms in the tourism sector to enhance resilience to shocks and strengthen institutions and streamline decision making, Country Director, ADB Sri Lanka Resident Mission, Takafumi Kadono, told the Serendipity Knowledge Program, ‘Tourism and Biodiversity Conservation” held yesterday in Colombo.

He said it would be presented to the ADB Board at the end of the year. Under this program USD 100 million will be allocated this year with another USD80 million for 2025 and an additional USD 30 million to support sustainable tourism in Sigiriya and Trincomalee. Kadono said Tourism and Biodiversity conservation is a very important topic in Sri Lanka currently as the country looks to strengthen high potential economic sectors to support recovery and place the economy firmly on a high growth trajectory. Tourism is a key driver of growth and expansion must be done in a sustainable manner.

ADB has been supporting the tourism sector since mid 2018 but it was only in 2019 that they started tourism operations in Sri Lanka after the Easter Sunday attacks which took a heavy toll on the industry by providingtechnical assistance worth USD 1.5 million, he said. Vincent Shacks, Group Impact Manager, Wilderness, South Africa made the keynote speech at the event.

The panel discussion was held with the patrician of Dr. Sumith Pilapitiya, Conservationist and Environmentalists, Chandana Sooriyabandara, Director General, Department of Wildlife Conservation, Sri Lanka, Dr. Asha de Vos, Founder and Executive Director, Oceanswell, Priantha Fernando, Chairman, Sri Lanka Tourism Development Authority and Sharon Atapattu-Tissera, Owner and operator of Hideaway Villa, Arugam Bay

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