Asian Development Bank (ADB) Country Director for Sri Lanka, Takafumi Kadono, recently visited ADB-aided small and medium-sized enterprises (SMEs) in Kandy. Kadono expressed his admiration for the success of these projects and committed to providing further support for Sri Lankan SMEs. The ADB has successfully completed the disbursement of the Small and Medium-Sized Enterprise Line
On Monday, the Asian Development Bank (ADB) and the Government of Sri Lanka signed a $100 million loan agreement for Subprogram 1 of a policy-based loan (PBL) aimed at supporting significant reforms in the country’s power sector. This loan is part of a broader $300 million programmatic approach PBL, which includes three subprograms designed to
The Asian Development Bank (ADB) has expressed confidence in Sri Lanka’s macroeconomic indicators, with Country Director Takafumi Kadono noting positive developments during a media briefing in Colombo yesterday. “Inflation has been controlled, primary and current balance figures are positive, the currency has stabilized, and reserves have increased. We observe significant progress since the economic crisis,
Sri Lanka’s central government net debt decreased to 36.3 billion USD in 2023, down from 37.5 billion USD in 2022, despite borrowing 1.57 billion USD to finance the budget deficit, according to official data. The reduction in net debt occurred as the central bank did not print money to enforce policy rates, eliminating forex shortages