ADB President calls on President

Sri Lanka President Maithripala Sirisena with ADB President Takehiko Nakao

Asian Development Bank President Takehiko Nakao called on President Maithripala Sirisena today (February 23) at the Presidential Secretariat. Mr Nakao arrived in Sri Lanka last night on a two-day official visit.

President held discussions on ADB-funded projects i Sri Lanka. Some of the new projects include a Rural Electrification Project of $70 million, an SME Credit Line of $100 million and a Local Government Enhancement Sector Project costing of $40 million.

The ADB last week expressed keenness to increase its funding portfolio by more than $1.2 billion in the next three years. A new Country Partnership Strategy is also on the cards to cover the period 2017-2021.

As of July 2015, ADB approved a total of 194 loans, to Sri Lanka, both sovereign and non sovereign, with cumulative lending of $7.06billion. ADB also provided $358 million in grant assistance and $127.78 million in technical assistance projects.

President Sirisena thanks the ADB for the assistance provided for development projects in Sri Lanka.

(President’s Media)