Sri Lanka secures USD 480 Million ADB support amid crisis

2026-03-24 - 13:45

Asian Development Bank President Masato Kanda / Sri Lanka President Anura Kumara Dissanayake The Asian Development Bank (ADB) has agreed to increase the amount approved for Sri Lanka for this year (2026) from USD 380 million to USD 480 million, and to promptly disburse USD 200 million of that total in light of the current situation. This was stated during a meeting held this afternoon (March 24) at the Presidential Secretariat in Colombo between Sri Lankan President Anura Kumara Dissanayake and a delegation led by Asian Development Bank President Masato Kanda, who is currently visiting the country. During the meeting, extensive discussions were held on how the Asian Development Bank could support Sri Lanka in achieving its future development goals. The President noted that the government expects the Bank’s assistance for its programme to rebuild the country following the recent disaster. The President of the Asian Development Bank commended the government’s efforts to maintain economic stability despite post-disaster conditions and the ongoing conflict in the Middle East. He also stated that the Bank is ready to provide any necessary support to rebuild infrastructure damaged by Cyclone Ditwah. President Anura Kumara Dissanayake expressed appreciation for the assistance already provided by the Asian Development Bank during the cyclone disaster, as well as for its broader development cooperation with Sri Lanka. He emphasized that the current government’s objective is to achieve economic growth while maintaining stability. The Asian Development Bank President also noted that he had the opportunity to personally observe the damage caused by Cyclone Ditwah and expressed readiness to support programmes aimed at preventing such situations in the future, particularly through the protection of water systems in the central highlands. Representing the Asian Development Bank at the meeting were Director General of the South Asia Department Sona Shrestha, Chief Advisor to the President’s Office Keiichiro Inui, Senior Advisor Manisha Pradhananga, and other senior officials. Representing the Government of Sri Lanka were Minister of Labour and Deputy Minister of Finance and Planning Dr. Anil Jayantha Fernando; Secretary to the President Dr. Nandika Sanath Kumanayake; Secretary to the Ministry of Finance Dr. Harshana Suriyapperuma; Senior Economic Advisor to the President Duminda Hulangamuwa; Senior Additional Secretary to the President Russel Aponsu; Alternate Executive Director of the Asian Development Bank Mahinda Siriwardana; Director General of the Department of External Resources Samantha Bandara; and several other officials.