Lankapage Logo CP 19 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* ADB plans to commit annually $800 million in loans to Sri Lanka next four years to boost economic growth
Tue, Apr 16, 2019, 09:39 pm SL Time, ColomboPage News Desk, Sri Lanka.

Apr 16, Colombo: The Asian Development Bank (ADB) as a leading multilateral development partner of Sri Lanka, plans to commit an average of $800 million annually in sovereign loans to the island nation during 2018 - 2022 to boost economic growth.

ADB's Country Partnership Strategy 2018 - 2022 for Sri Lanka, focuses on building high-quality infrastructure in the transport, energy, and urban sectors, the lender said in a member fact sheet.

The bank's operations also contribute to the Sri Lankan government's key development goals of economic diversification, job creation, income enhancement, and rural economic development.

Over the past decade, Sri Lanka has made rapid strides toward its development goals, halving its poverty rate to low single digits and improving human development, according to the ADB.

While the country now stands close to reaching upper-middle income status, it needs to foster more inclusive and sustainable momentum for economic growth, the Bank observed.

In 2018, Sri Lanka's economic growth remained subdued as it faced challenges stemming from domestic and external factors.

Priority investments for economic diversification and productivity enhancement will focus on building infrastructure (transport, energy, and urban), developing an economic corridor, and enhancing human capital.

Priority investments to promote inclusiveness will include strengthening agriculture infrastructure and commercialization, improving rural connectivity, improving public service delivery, and expanding access to finance for MSMEs.

 

ColomboPage - Recent 10 Stories ::
SriLankan brings 200 MICE travelers from Chennai to boost tourism
-- [3 hours ago]
Fitch rates Sri Lanka's USD Bonds 'B(EXP)'
-- [3 hours ago]
Moody's assigns B2 rating to Sri Lanka's proposed senior unsecured US dollar bonds
-- [3 hours ago]
Tense situation at Kalutara Hospital as people oppose GMOA petition against Health Minister
-- [4 hours ago]
State Minister leads delegation to special Workshop on Multipurpose Fisheries Construction in Korea
-- [4 hours ago]
Minister promises to increase paddy prices from Maha Season
-- [5 hours ago]
IGP's Fundamental Rights petition to be heard on July 31
-- [6 hours ago]
Traditional recipes help Valalai's women become modern entrepreneurs
-- [6 hours ago]
Prime Minister to open high quality lubricants blending plant at Muthurajawela today
-- [8 hours ago]
Sri Lanka Insurance receives Fitch Rating upgrade to AAA (lka) for strong financial stability
-- [9 hours ago]

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.