Lankapage Logo CP 18 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* ADB assures to fully support Sri Lanka's infrastructure development plans
Wed, Nov 22, 2017, 10:04 pm SL Time, ColomboPage News Desk, Sri Lanka.

Nov 22, Colombo: The Asian Development Bank (ADB), which marks 50 years of cooperation in development activities in Sri Lanka has assured that it would extend fullest support to the economic development plans initiated by the Sri Lankan government.

Vice President of the Asian Development Bank (ADB), Wencai Zhang gave this assurance when he called on President Sirisena at the Presidential Secretariat on Wednesday (November 22) to discuss the Country Partnership Strategy for development assistance for the period 2018-22.

The ADB has allocated US$ 4 to 5 billion for Sri Lanka development programs for the next five years.

Mr Zhang emphasized the need for speeding up the capital market development to enhance economic growth. The ADB Vice President underscored the importance of Sri Lanka's infrastructure development financing mechanism and added that ADB would provide assistance to infrastructure development.

President briefed the ADB delegation about the economic development policies with special emphasis on poverty alleviation and Grama Shakthi people's movement and urged the ADB to extend support to these initiatives, to which Mr Zhang readily agreed. He said that Sri Lanka should enhance economic growth by attracting more foreign investments and economic development zones would play a vital role in that.

The ADB has provided assistance worth US$ 9 billion in the past 50 years and the President expressed his thanks to the Bank.

Secretary to the President, Austin Fernando, ADB Country Representative Ms Sri Widowati, Secretary General of National Economic Council, Prof Lalith Samarakoon and President's Economic Advisor, Dr Sarath Rajapathirana were also present during the discussion.

 

ColomboPage - Recent 10 Stories ::
Sri Lanka Navy assists repatriation of 109 Indian and 6 Sri Lankan fishermen released from detention
-- [54 minutes ago]
No power to change women's representation - CaFFE
-- [1 hour and 22 minutes ago]
Sri Lanka Speaker to make a special statement on unity government tomorrow
-- [1 hour and 50 minutes ago]
Over 3,000 died in road accidents in Sri Lanka last year
-- [2 hours ago]
Sri Lanka's Muslim party ACMC calls for leaders to unite for a stable government
-- [3 hours ago]
First draft of National Sustainability Dialogue presented to President
-- [4 hours ago]
Sri Lankan government to finalize a new economic program by next week
-- [4 hours ago]
Sri Lanka Opposition Leader slams former president for misleading people on ethnic issue
Sri Lanka election monitor calls on government to hold Provincial Council Elections in April
DFCC Bank profit after tax up by 34 percent in FY 2017

Copyright © 2000, 2016 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.