📈 Cabinet Approves $100 Mn ADB Loan for Sri Lanka's Economic Recovery

Sri Lanka’s Cabinet has approved a US$ 100 Mn loan agreement with the Asian Development Bank (ADB) to support the Macro-Recovery Sector Development Programme aimed at enhancing economic stability and inclusive growth. • Overall Funding Structure: Forms part of a larger US$ 620 Mn ADB policy-based lending package supporting national reform agendas under the IMF Extended Fund Facility (EFF). • Tranche Breakdown: • US$ 50 Mn policy-based loan • US$ 50 Mn investment loan (from ADB ordinary capital resources) • Key Governance & Approval: Proposal submitted by President Anura Kumara Dissanayake as Finance Minister following successful negotiations by the Department of External Resources. • Economic Impact: Targeted at strengthening economic resilience, improving stability, and expanding inclusive economic opportunities across key national sectors.