Asian Development Bank President Takehiko Nakao called on President Maithripala Sirisena today at the Presidential Secretariat. Nakao arrived in Sri Lanka last night on a two-day official visit.
The President held discussions with Nakao on ADB-funded projects in 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 $7.06 billion. The ADB also provided $358 million in grant assistance and $127.78 million in technical assistance to Sri Lanka. (Colombo Gazette)