ADB loans US$ 200 Mn from US$ 400 Mn for stabilisation

The Cabinet of Ministers has granted approval to obtain loan facilities from the Asian Development Bank for the financial sector stability and reform programme in Sri Lanka, Cabinet Spokesman and Mass Media Minister Dr. Bandula Gunawardhana said.

Speaking to the media yesterday at this week’s Cabinet media conference, Minister Gunawardena said that the approval was given at the Cabinet meeting held on September 25, 2023 to obtain the loan facility of US$ 400 million on a policy basis under the two sub programmes for implementation of the stabilization of the financial sector and reform programme in Sri Lanka. Accordingly, US$ 200 million has been given for the first subprogram as of December 2023.

In order to obtain the remaining loan of US$ 200 million under the second subprogram, 12 pre-policy activities should be completed and at present most of said activities have been completed or in the final stages of completion.

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