Thursday, 28 September 2023 10:22

ADB to grant US$400milllion for Sri Lanka crisis management Featured

Sri Lanka’s cabinet of ministers has approved signing a 200 million US dollar policy based loan from the Asian Development Bank, which is the first tranche of a 400 million dollar program which has been discussed, the state information office said.

The first 200 million dollar loan comes under a crisis management framework for an accelerated financial sector stabilization program.

The second program involves building an inclusive and resilient financial sector.

Under the first sub-program the 200 million dollar credit is loaned at a 2 percent interest to be repaid in 25 years with a five year grace period.

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