Friday Sep 19, 2025
Friday Sep 19, 2025
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| Cabinet Spokesman and Minister Dr. Nalinda Jayatissa |
The Cabinet of Ministers on Monday approved the signing of loan agreements to secure a $ 100 million facility from the Asian Development Bank (ADB) to support a new tourism field development program.
The funding package includes two components: A $ 70 million policy-based loan and an investment-focused loan grant, to strengthen both regulatory and infrastructure aspects of the country’s tourism sector.
Speaking at the weekly post-Cabinet meeting media briefing yesterday, Cabinet Spokesman and Minister Dr. Nalinda Jayatissa said under the investment component, the initiative will focus on enhancing tourism’s contribution to regional economies, improving accessibility and travel capacity in key destinations such as Trincomalee and Dambulla (including the Sigiriya area), regulating tourism traffic and promoting extended visitor stays.
He said the Urban Development, Construction, and Housing Ministry has been designated as the implementing agency and executing authority for the projects under this initiative.
“The Government expects the initiative to not only upgrade infrastructure, but also increase the sector’s competitiveness, attract more visitors and support long-term growth in tourism earnings,” he added.
The joint proposal tabled by Foreign Affairs, Foreign Employment and Tourism Minister Vijitha Herath and Urban Development, Construction and Housing Minister Aruna Karunathilake was approved by the Cabinet of Ministers on Monday.
