ADB's Work in Sri Lanka
Shareholding and Voting Power
Number of shares held:
61,560 (0.579% of total shares)
100,674 (0.757% of total membership, 1.162% of total regional membership)
Overall capital subscription:
Paid-in capital subscription:
ADB has been a major development partner to Sri Lanka since 1966 and is today the country’s largest source of multilateral development assistance. Sri Lanka has witnessed steady growth over the past decade, although economic expansion has slowed in the past few years, indicating important macroeconomic challenges ahead. In 2019, the country’s growth remained subdued, reflecting the impact of the Easter Sunday terror attacks on tourism and general disruption in the economy.
Sri Lanka has entered a new development phase, reaching upper middle-income status at the end of 2018. The country’s new government since November 2019 is focused on reinforcing national security, eradicating corruption, and achieving higher and more sustainable economic growth.
The Udatenna to Mahiyanganaya road is an ADB supported project that has vastly eased transport on one of the most difficult to maneuver roads in Mahiyanganaya, Sri Lanka.
Since 1966, ADB has committed loans, grants, and technical assistance totaling $10.5 billion for Sri Lanka. Cumulative loan and grant disbursements to Sri Lanka amount to $7.21 billion. These were financed by regular and concessional ordinary capital resources, the Asian Development Fund, and other special funds.
On 1 January 2019, Sri Lanka graduated from ADB’s concessional assistance and is eligible to borrow only from the bank’s regular ordinary capital resources.