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Annual Report 2003 : Moving the Poverty Reduction Agenda Forward: Priorities and Outcomes : South Asia

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Sri Lanka

Strategy and Policy Dialogue.
Sri Lanka’s CSP 2004–2008 was endorsed in September 2003. The strategy proposes a higher level of lending than in the past to support peace and rehabilitation, economic growth, and the economic reform agenda of the Government. In May 2003, the donors’ meeting in Tokyo pledged $4.5 billion in support of the country’s economic recovery and the ongoing peace process. The strategy, in line with the PPA signed by the Government and ADB in March 2002, aimed to reduce the wide income disparity within the region due to civil conflict and also to improve governance and support for private sector growth.

A broad range of economic, thematic, and sector work began, specifically assessments on the country’s borrowing capacity and ability to absorb ordinary capital resources, and also on gender, governance, and the private sector. These will strengthen the formulation of new projects, improve sector strategies, and promote informed policy debate. Ongoing technical assistance supported streamlining budgeting, setting up a multisector utility, and restructuring public enterprises.

Loans and Technical Assistance.
Eight loans totaling $275.3 million were approved. These included support for distance education, water supply and sanitation, conflict area rehabilitation, and rural finance. Eleven technical assistance projects amounting to $5.4 million were also approved.

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