Sri Lanka will continue to be dedicated to the changes necessary to go back on a sustainable debt trajectory, addressing both domestic and external imbalances, according to State Minister of Finance Shehan Semasinghe.
On Twitter, Semasinghe stated, “We greatly value the emergency assistance provided by the ADB to support basic services and sustain livelihoods during the crisis.” This was in response to the recent policy-based loan of USD 350 million that the Asian Development Bank (ADB) had granted.
On May 29, the ADB authorized a special policy-based loan for Sri Lanka totaling USD 350 million to meet the country’s budgetary needs for economic stabilization.
In a statement, the ADB stated that the program was a component of a larger package of financial assistance for the country that was anchored by the External Fund Facility (EFF) of the International Monetary Fund (IMF), with the goal of stabilizing the economy and laying the groundwork for long-term growth and recovery.
