Cabinet Approves US$ 620 Mn ADB Financing for Key Economic Reforms 📈

The Cabinet of Ministers has cleared a US$ 620 million funding package from the Asian Development Bank (ADB) to support Sri Lanka’s recovery and reform agenda under the IMF’s Extended Fund Facility (EFF). • Overall Funding: US$ 620 million via five policy-based sub-programs. • MSMEs & Finance: US$ 220 million to develop a strong and inclusive financial environment for micro, small, and medium enterprises. • Trade & Industry: US$ 100 million allocated for the Trade, Investment, and Industrial Development Program to boost private sector development. • Agriculture: US$ 100 million for the Agricultural Value Chain Financing Commercialisation Sector Development Project to enhance productivity. • Infrastructure & Resilience: US$ 100 million for Water Supply and Sanitation Rehabilitation and US$ 100 million for building resilience and inclusive recovery. The financing, proposed by President Anura Kumara Dissanayake, aims to bridge critical infrastructure gaps and support fiscal consolidation while promoting sustainable growth across key sectors.