The Asian Development Bank (ADB) has agreed to increase its financial assistance to Sri Lanka for this year from $380 million to $480 million, with $200 million to be released urgently in light of the current situation.
This was announced 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 visiting Sri Lanka.
During the discussions, both sides focused on how the ADB could support Sri Lanka in achieving its future development goals. The President noted that ADB assistance would be vital for the government’s programme to rebuild the country following the devastation caused by Cyclone Ditwah.
ADB President Masato Kanda commended the government’s efforts to maintain economic stability despite the post-disaster challenges and the ongoing tensions in the Middle East. He assured that the ADB is ready to provide all necessary support, particularly in rebuilding infrastructure damaged by the cyclone.
President Dissanayake expressed appreciation for the assistance extended by the ADB during the Cyclone Ditwah disaster, as well as its continued development cooperation with Sri Lanka. He reiterated that the government aims to achieve economic growth while maintaining stability.
Kanda, who observed the damage caused by the cyclone, also stated that the ADB is willing to support programmes aimed at protecting the central highlands’ water systems and preventing similar disasters in the future.
