ADB pledges support for new projects in Sri Lanka for next 5 years

Thursday, 12 October 2023 00:04 - - {{hitsCtrl.values.hits}}

Prime Minister Dinesh Guawardena expresses gratitude for ADB’s unwavering support to Sri Lanka
Calls on ADB to initiate new projects on renewable energy, digitalisation, public transport systems
ADB delegates brief PM on mid and long-term projects to boost economy, infrastructure development
Governing Board Members to study progress, inquire into areas of future projects during the visit

The members of the Board of Governors of the Asian Development Bank (ADB) engaged in extensive deliberations with Prime Minister Dinesh Gunawardena regarding Sri Lanka’s financial requirements for projects for the next 5 years at Temple Trees on Tuesday.

Acknowledging Sri Lanka’s commendable and swift economic recovery following last year’s crisis, the ADB delegates expressed their contentment and commitment to supporting the country’s visionary projects.

The members of the Board have emphasised a positive response towards proposed initiatives focusing on digitalisation and information technology, enhancement of public transportation, human resource development and education, water management and the promotion of small and medium enterprises (SMEs). They also praised the efforts of the Government to provide social security support to vulnerable groups in the society.

Prime Minister Gunawardena, expressing gratitude for the ADB’s unwavering support, outlined the ambitious goals set forth by the Government to further boost the country’s socio-economic landscape.

He underscored the critical role the proposed projects would play in achieving sustainable development and ensuring a brighter future for the people of Sri Lanka.

The Prime Minister urged the regional funding agency to initiate new projects in areas such as renewable energy, digitalisation and public transport systems, especially the railways.

ADB Team Leader Executive Director Chantale Wong and Executive Director (Sri Lanka) Sangmin Ryu briefed the Prime Minister about the ADB’s mid-term and long-term projects for economic progress and infrastructure development.

The ongoing projects cover areas such as strengthening public financial management and governance, fostering private sector development and improving access to public services and deepening inclusion, social protection, equitable access, health, climate, and agriculture modernisation.

ADB Country Director Takafumi Kadono said that ADB Governing Board Members would study the progress of projects and inquire into the areas of future projects during the visit. The delegation will also visit project sites to see the progress.

ADB delegation comprised Executive Directors Wan Farisan Bin Wan Sulaiman, Charlotte Justine Diokno-Sicat, Shigeo Shimizu, Alternate Executive Directors David Cavanough, Xia Lyu, Alberto Cerdan and Nim Dorji and Secretariat Administrator, Marie Rose B. Alvero. Minister Roshan Ranasinghe, Secretary to the Prime Minister Anura Dissanayake, Private Secretary C Kuruppu and Media Advisor Sugeeswara Senadhira were present on this occasion.