Cabinet approves additional USD 100mn ADB financing for Sri Lanka programme

The Asian Development Bank has agreed to assist by increasing a supplementary financing package of United States Dollars 100 million so that it will be increased up to United States Dollars 200 million.

In March, the Cabinet had cleared the move to obtain USD 380 million from ADB facilities, with USD 100 million earmarked for the Trade, Investment and Industries Development Programme – Sub Programme 1. 

However, amid economic uncertainty triggered by the Middle East crisis and recent climate‑related disasters, the ADB has agreed to extend supplementary financing of an additional USD 100 million.

The Cabinet endorsed the proposal presented by President Anura Kumara Dissanayake in his capacity as Minister of Finance, authorizing further measures to secure the enhanced loan package. (Newswire)

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