Thursday Mar 19, 2026
Thursday Mar 19, 2026
Wednesday, 18 March 2026 00:26 - - {{hitsCtrl.values.hits}}
The Cabinet of Ministers on Monday approved plans to secure $ 620 million in financing from the Asian Development Bank (ADB) under five key sub-programs to accelerate the country’s reform agenda and support economic recovery.
The funding package spans multiple sectors, reflecting a broad-based strategy to strengthen trade, finance, infrastructure, and agriculture while enhancing resilience in the post-crisis economy.
Addressing the media at the weekly post-Cabinet meeting, Cabinet Spokesman and Minister Dr. Nalinda Jayatissa said $ 100 million has been allocated for the Trade, Investment and Industrial Development Program, $ 220 million will go towards building a strong and inclusive financial environment for micro, small and medium-sized enterprises (MSMEs), $ 100 million each has been earmarked for the Water Supply and Sanitation Rehabilitation Program, the Development Program to Build Resilience and Enable Inclusive Recovery, and the Agricultural Value Chain Financing Commercialisation Sector Development Project.
He said the ADB has agreed to extend this support through policy-based lending, aligning closely with Sri Lanka’s ongoing reform program under the International Monetary Fund’s (IMF) Extended Fund Facility (EFF).
Dr. Jayatissa noted that these initiatives are expected to address critical gaps in infrastructure, social resilience and agricultural productivity, while promoting sustainable growth.
The financing is expected to complement structural reforms already underway, particularly those focused on fiscal consolidation, private sector development and improving governance.
The proposal to this effect was submitted by President Anura Kumara Dissanayake in his capacity as the Finance, Planning and Economic Development.
