ADB reaffirms support for Sri Lanka with US$ 900mn for 2025
- CNL Reporter
- February 14, 2025
- Banking and Financial
- ADB reaffirms support for Sri Lanka with US$ 900mn for 2025
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Manila-based Asian Development Bank is in talks to finance Sri Lanka with 900 million US dollars in 2025, after providing 808 million in 2024, to help the country emerge from an economic crisis, officials said.
The 2025 support will be for power, agriculture, finance, tourism and skills development, as well macroeconomic stability, Cholpon Mambetova, Country Operations Head said.
In 2024, the ADB had approved 808 million dollars of mostly policy-based loans for budget support.
The Asian Development Bank was stepping into support Sri Lanka in priority sectors, as the country recovered from an economic crisis, Country Director Takafumi Kadono said.
One of the last loans approved in 2024 for the power sector, which will help improve the reliability of the supply and allow the grid to handle renewable power
