Sri Lanka and ADB
In the Spotlight
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Asian Development Bank and Sri Lanka: Fact Sheet
Since 1966, ADB has been a strong partner in the development of Sri Lanka, signing loans, grants, and technical assistance totaling $9.7 billion, and making ADB the country’s largest source of multilateral development assistance.
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Sri Lanka's President Maithripala Sirisena Visits ADB, Discusses Development Challenges
Sri Lanka’s President Mr. Maithripala Sirisena made his first visit to ADB headquarters while conducting a state visit to the Philippines and met with ADB President Mr. Takehiko Nakao.
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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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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
Micro and Small Rural Entrepreneurs' Access to Credit Enhanced by ADB
ADB, the Government of Sri Lanka, and the Regional Development Bank today signed Loan and Guarantee Agreements to further assist Sri Lanka to provide affordable and accessible credit to rural micro, small, and medium-sized enterprises.
The real effective exchange rate, the level of education, trade openness, and political stability are positively associated with remittance inflows.
Determinants of International Remittance Inflows in Middle-Income Countries in Asia and the Pacific
ADB Backing High-Tech Systems in Maldives to Promote Trade
ADB has approved a financial package totaling $11 million to bring in a single electronic platform in Maldives to improve the speed and efficiency of cross-border control procedures employing the latest in high-tech systems.
Projects in Sri Lanka
Approved/Active
- Deploying Solar Systems at Scale
- Supporting Feasibility Study and Survey to Adopt Liquefied Natural Gas (LNG) Power Generation to Diversify Energy Mix
- Strengthening the Regional Development Bank Project
- Developing Anti-Money Laundering and Combating the Financing of Terrorism Approaches, Methodologies, and Controls (Subproject B)
- Sustaining Climate and Disaster Risk Resilient and Low Carbon Development in South Asia
