Cabinet green lights additional $ 100 m ADB financing

Wednesday, 17 June 2026 06:59 - - {{hitsCtrl.values.hits}}

The Cabinet of Ministers has approved steps to secure an additional $100 million in financing from the Asian Development Bank (ADB), doubling the allocation under a key trade, investment and industrial development programme to $ 200 million.

On 16 March, the Cabinet approved obtaining $ 380 million through policy-based loan facilities from the ADB during 2026. Of this amount, $100 million was earmarked for the Trade, Investment and Industries Development Program-Sub Program.

The ADB recently announced that it has agreed to provide a supplementary financing package of $ 100 million in response to economic uncertainties arising from the ongoing crisis in the Middle East and the impact of climate-related disasters.

“The additional funding will increase the allocation for the trade, investment and industrial development program from $ 100 million to $ 200 million,” Cabinet Spokesman and Minister Dr. Nalinda Jayatissa said at the weekly post-Cabinet meeting yesterday.

When asked about expanding the debt portfolio, he said the Government was taking loans for development and will repay them on time.