Sri Lanka and ADB
In the Spotlight
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Rapid Economic Development through Specific Cooperation Projects in Infrastructure and Transportation
The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) was established to promote free trade within the region, increase cross-border investment and tourism, and promote technical cooperation. Its seven-country membership comprises Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand.
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ADB $100 Million Additional Funding to Enhance Skills for Jobs
ADB's Board of Directors has approved a $100 million loan as additional financing for Sri Lanka’s efforts to develop skills to meet labor demands, support economic diversification, and enhance productivity.
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ADB Provides Additional Funds to Support SME Development in Sri Lanka
The ADB Board of Directors has approved $75 million in additional financing to continue support toward the development of small and medium-sized enterprises (SMEs), considered vital for economic growth and job creation in Sri Lanka.
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Sri Lanka: Building on Success
This country brief highlights that ADB continues to support Sri Lanka in new areas such as private sector development, knowledge solutions, and development of advanced infrastructure as the country transforms into an upper-middle-income country.
Sri Lanka is entering a new stage of development and, within a few years, will be ready to reach upper-middle-income status. The country’s new government - which was formed following the presidential and general elections in January 2015 and August 2015, respectively - is focused on inclusive growth, good governance, and private sector development.
ADB is aligning its operations in Sri Lanka with the evolving needs of the country and the priorities of the new government.
Sri Lanka is a member of the South Asia Subregional Economic Cooperation (SASEC) program.
Latest
ADB, Hatton National Bank Partner to Provide $20 Million for Microfinance in Sri Lanka
ADB today signed an agreement with HNB, under ADB’s Microfinance Risk Participation and Guarantee Program, to expand local currency lending and provide guarantees of up to $20 million to the microfinance sector in Sri Lanka.New ADB-Supported Facility to Improve Urban Projects in Sri Lanka
ADB's Board of Directors has approved a $10 million technical assistance loan to finance the establishment of a facility that will help improve the design and implementation of urban projects in Sri Lanka.Sustainable Development Goals: Aspirations, Role of Parliaments and the Potential of Evaluation – Marvin Taylor-Dormond
Keynote Address of Marvin Taylor-Dormond, Director General, Independent Evaluation Department, ADB during the EvalColombo 2018 “Responsible Parliament: Embracing Evaluation for Agenda 2030”, 17-19 September 2018, Sri Lanka
Projects in Sri Lanka
Approved/Active
- Urban Project Preparatory Facility
- Supporting Knowledge Solutions for New Development Strategies in South Asia
- South Asia Subregional Economic Cooperation Regional Energy Cooperation
- Implementing Trade Facilitation Initiatives under the South Asia Subregional Economic Cooperation Program
- Science and Technology Human Resource Development Project
