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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Sri Lanka to get US$1.4bn from ADB over four years

Sri Lanka to get US$1.4bn from ADB over four years

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Jayashantha

Jayashantha
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Sri Lanka will get 1.4 billion US dollars from the Asian Development Bank over the next four years to finance health, sanitation education and energy, officials said.

In 2014 ADB is expected to disburse 406 million US dollars for ongoing projects.

"ADB remains active in Sri Lanka and we want to do more," newly appointed ADB Country Director for Sri Lanka Sri Widowati said.

"ADB will continue to focus on infrastructure development, including renewable energy, transmission efficiency, expansion of water supply urban areas with lower leakages at the same time focusing on the education sector."

As of May 2014, the ADB had active projects of 2.14 billion US dollars in project Ahsan Tayyab, from ADB's Colombo resident mission said.

The ADB also actively involved in modernizing Sri Lanka's state-run education system boosting information technology skills through 380 million US dollars of projects in primary education boosting and also vocational training.

Of that 619 million US dollars were financing water supply and sanitation projects from Greater Colombo to Sri Lanka's rural dry zone and Jaffna and Kilinocchi areas which are recovering from a 30-year war.

http://www.lankabusinessonline.com/news/sri-lanka-to-get-us$1.4bn-from-adb-over-four-years/162837928

stevenapple


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Dream that this fund will be utilised in a way which derive maximum benifits to the public.

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