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Asian Development Bank Supports Sri Lanka with New Funds

Friday, August 25, 2017

The Asian Development Bank (ADB) has earmarked up to $ 5 billion to work on a new country partnership strategy (CPS) for 2018-2022, with the Government to address policy reforms and growth-oriented infrastructure as well as strengthen drivers of growth through sustainable, inclusive and environmentally friendly solutions to help Sri Lanka’s transition to upper middle income country status. Under the new five-year CPS, ADB is committing around $ 800 million-$ 1 billion per year, while technical assistance is expected to amount to about $ 8 million a year. In addition, ADB will also increase its private sector operations by expanding into non-finance sectors.

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