State Minister of Finance Shehan Semasinghe to address business sessions
The 57th Annual Meeting of the Board of Governors of the Asian Development Bank (ADB) will be held in Georgia, from May 2-5, 2024.
State Minister of Finance Shehan Semasinghe will participate and engage in bilateral talks with counterparts of a number of other countries on the sidelines of the event, to discuss Sri Lanka’s ongoing engagements for economic revival.
Sri Lanka is a founding member of ADB. The bank disbursed $908 million to Sri Lanka in 2023 and committed $610 million in loans. Technical assistance commitments totaled $5.5 million for the year.
The meeting is expected to bring together about 5,000 participants, including Finance Ministers and Central Bank governors from ADB member countries, officials from international organizations, representatives from the private sector, civil society organisations, and media. It will provide momentum in deepening mutual understanding and economic cooperation between Georgia and economies in the Asia-Pacific region a step further.
Meanwhile, ADB President Masatsugu Asakawa discussed ADB’s economic outlook for Asia and the Pacific and challenges for the region, including food security, climate change, and dealing with external shocks participating in a curtain raiser interview with Zeinab Badawi, International Broadcaster ahead of the Annual Meeting of ADB.
In the ‘full ADB Insight episode,’ a curtain raiser to the 2024 ADB Annual Meeting, ADB President Asakawa, European Bank for Reconstruction and Development President Odile Renaud-Basso and Georgia Finance Minister, Lasha Khutsishvili shared their insights on what it will take to build a sustainable, inclusive future.
ADB’s annual flagship economic publication, the Asian Development Outlook (ADO) April 2024, forecasted Sri Lanka’s economy to record moderate growth of 1.9% in 2024 and 2.5% in 2025 following 2 consecutive years of contractions.
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