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* ADB to support Sri Lanka to develop SMEs, restructure SOEs
Mon, Jan 10, 2022, 11:48 pm SL Time, ColomboPage News Desk, Sri Lanka.

Jan 10, Colombo: Asian Development Bank (ADB) Vice President Shixin Chen has stated that the Bank will support the Small and Medium Enterprises (SMES) sector for the economic development of the country.

The Vice President Chen made these remarks when he met President Gotabaya Rajapaksa at the Presidential Secretariat, Monday (10), President’s Media Division said.

Mr. Chen commended the success of ongoing projects in Sri Lanka with the assistance of the Asian Development Bank. He further said that the ADB is ready to provide funds to restructure several state owned enterprises (SOEs).

The ADB has allocated US$ 786 million for Sri Lanka this year for implementation of 27 projects.

The Asian Development Bank's Annual Meeting will be held in Sri Lanka from May 02 to 05, with the participation of 68 countries. Simultaneously, plans are afoot to hold several activities, including business conferences. About 5,000 local and foreign representatives are expected to attend these events. The Annual Meeting will be held under the theme "Positioning Climate Resilient Green Economy for the Post COVID-19 World."

The ADB Vice President commended the successful Covid-19 vaccination program and the streamlined health mechanisms implemented by the government.

President Rajapaksa said that the Government and the people of Sri Lanka are grateful for the assistance provided by the ADB to make the vaccination program a success.

Asian Development Bank Senior Advisor Aiming Zhou, Country Director of Sri Lanka Resident Mission Chen Chen, Secretary General Muhammad Ehsan Khan, Deputy Country Director Utsav Kumar, Secretary to the President P.B. Jayasundera, Finance Secretary S.R. Attygalle, Deputy Secretary to the Treasury R.M.P Rathnayake, Director General of the External Resources Department Ajith Abeysekera and Chief Executive Officer Dr. D.S. Jayaweera were also present.


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