ADB is ready to provide funds to restructure several SOEs in Sri Lanka, VP informs President

Asian Development Bank (ADB) Vice President Shixin Chen stated that the Bank is ready to provide funds to restructure several state-owned enterprises.

Vice President Chen made these remarks when he met President Gotabaya Rajapaksa at the Presidential Secretariat, today (10).

He further said that the Bank will support the Small and Medium Enterprises (SMEs) sector for the economic development of the country.

Chen also commended the success of ongoing projects in Sri Lanka with the assistance of the Asian Development Bank.

He commended the successful Covid-19 vaccination programme and the streamlined health mechanisms implemented by the government.

The ADB has allocated US$ 786 million for Sri Lanka this year for the implementation of 27 projects.

The Asian Development Bank’s Annual Meeting will be held in Sri Lanka from May 02 to 05, with the participation of 68 countries.

Simultaneously, plans are afoot to hold several activities, including business conferences. About 5,000 local and foreign representatives are expected to attend these events.

The Annual Meeting will be held under the theme “Positioning Climate Resilient Green Economy for the Post COVID-19 World.
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