The Asian Development Bank (ADB) has approved $100 million in financing, consisting of a $50 million policy based loan and a $50 million project loan to strengthen social protection, economic inclusion and resilience for the poor and elderly in Sri Lanka.
The initiative, named the Promoting Resilience and Opportunity for Inclusive Recovery Sector Development Programme, aims to help the government expand livelihood and employment opportunities for low income households, enhance eldercare services and boost the responsiveness of the country’s social protection system. ADB Country Director for Sri Lanka Shannon Cowlin noted that the programme will ensure economic recovery translates into meaningful improvements for vulnerable populations.
While Sri Lanka continues its economic recovery, poverty and vulnerability remain high, particularly among women, youth, the elderly, persons with disabilities and populations in rural or disadvantaged areas.
The programme directly addresses these challenges through policy reforms, institutional strengthening, and strategic investments.
To support livelihoods, the programme will assist the implementation of the government’s National Empowerment Programme by providing 30,000 households identified through the Aswesuma social registry across six districts with livelihood grants, employment and business support, skills development, financial literacy training and access to reliable markets.
Regarding eldercare, the programme will strengthen the policy and regulatory framework while establishing five model elderly day care centers in poorer districts to provide integrated support services and serve as demonstration sites for nationwide scaling.
Additionally, the programme will enhance social protection delivery by upgrading digital platforms, monitoring systems, case management, and data governance, alongside measures to improve shock responsiveness during climate-related emergencies and other crises. (Newswire)
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