The Asian Development Bank (ADB) has agreed to increase the allocation approved for Sri Lanka for this year from USD 380 million to USD 480 million and to promptly release USD 200 million in view of the prevailing situation, the President’s Media Division (PMD) said.
The agreement was conveyed during a meeting held this afternoon (24) at the Presidential Secretariat between President Anura Kumara Dissanayake and a delegation led by ADB President Masato Kanda, who is currently on an official visit to Sri Lanka.
During the discussions, extensive attention was given to ways in which the ADB could support Sri Lanka in achieving its future development objectives. President Dissanayake expressed the Government’s expectation of ADB assistance for the country’s post-disaster recovery programme.
ADB President Kanda commended the Government’s efforts to maintain economic stability despite the post-disaster context and the prevailing conflict situation in the Middle East. He also assured that the ADB stands ready to provide necessary assistance to restore infrastructure damaged by Cyclone Ditwah.
President Dissanayake expressed appreciation for the support extended by the ADB in response to the Cyclone Ditwah disaster as well as for its continued development cooperation with Sri Lanka, noting that maintaining economic stability while achieving economic growth remains a key objective of the present Government.
The ADB President stated that he had the opportunity to observe first-hand the damage caused by Cyclone Ditwah and affirmed the Bank’s readiness to support programmes aimed at preventing similar situations in the future, including measures to protect water systems in the central highlands.
The ADB delegation included Director General of the South Asia Department Sona Shrestha, Chief Advisor to the Office of the President Keiichiro Inui, Senior Advisor Manisha Pradhananga and other senior officials.
Representing the Government were Minister of Labour and Deputy Minister of Economic Development Anil Jayantha Fernando, Secretary to the President Dr. Nandika Sanath Kumanayake, Secretary to the Ministry of Finance Dr. Harshana Suriyapperuma, Senior Economic Advisor to the President Duminda Hulangamuwa, Senior Additional Secretary to the President Russell Aponsu, Alternate Executive Director of the ADB Mahinda Siriwardana, Director General of the Department of External Resources Samantha Bandara and several other officials.
