Mangala holds discussion with ADB to expedite projects

• ADB funded projects exceed $3.6 b

Finance and Media Minister Mangala Samaraweera, on the sidelines of the 51st Asian Development Bank (ADB) annual meeting in Manila, met with top officials yesterday to discuss fast tracking local projects. 

Samaraweera had discussions with ADB Board Executive Director In-chang Song at the ADB headquarters.

Over the next five years, ADB will contribute to the Government’s key development goals of job creation, income enhancement, rural economic development, knowledge formation, and export diversification. Both sides agreed at the meeting to accelerate ongoing bilateral projects, which currently surpass $3.6 billion. 

The ADB program in Sri Lanka has provided loans, grants and technical assistance to grow the country’s economy and improve the lives of people, particularly the poor, women, children and other vulnerable groups.

ADB has worked closely with Sri Lanka since 1966, signing loans, grants and technical assistance totalling $9.1 billion as of 31 December 2017.

The Government, formed following the presidential and general elections in January 2015 and August 2015, respectively, is focused on inclusive growth, good governance and private sector development.

The Sri Lankan delegation to the ADB conference includes Treasury Secretary Dr. R. H. S. Samaratunga, and other senior officials from the Budget Department.