Cabinet nod to secure $ 200 m ADB loan package for post-cyclone reconstruction

Wednesday, 12 August 2026 06:02 - - {{hitsCtrl.values.hits}}

The Cabinet of Ministers has approved the signing of financial agreements with the Asian Development Bank (ADB) to secure a $ 200 million loan facility for the implementation of a major post-cyclone reconstruction and livelihood support program.

The decision follows Cabinet approval granted at its meeting on 15 June 2026 to negotiate with the ADB for financing under the proposed “Post-Cyclone Reconstruction and Livelihood Support Project.”

Following negotiations, Sri Lanka is to obtain $ 100 million from the ADB’s concessional General Capital Resources and a further $ 100 million from its regular General Capital Resources.

Addressing the weekly post-Cabinet meeting media briefing yesterday, Cabinet Spokesman and Minister Dr. Nalinda Jayatissa said the financing is expected to support reconstruction efforts in areas affected by the cyclone Ditwah, with the project focusing on restoring essential infrastructure and helping affected communities rebuild their homes and livelihoods.

“The loan facility is planned to be used for the rehabilitation and reconstruction of road infrastructure, reconstruction of damaged irrigation systems and restoration of livelihoods and housing for families affected by the cyclone,” he added.

The proposal to this effect was submitted by President Anura Kumara Dissanayake in his capacity as the Finance, Planning and Economic Development Minister.