The bank has been giving low interest loans to Sri Lanka since 1968 but 90 percent of the 3.7 billion total lending came after 1986.
"One of the findings was that with program or reform loans perhaps both sides were too ambitious," says Johanna Boestel a country economist at the ADB Colombo office.
"The ADB missions came and thought that things can be done quickly and the government, in its enthusiasm, also agreed to theses reform loans. Perhaps both sides were too ambitious.
Program loans support broad economic reforms while ones targeting an identified project like constructing a school building or a road are called project loans.
For analyzing lending to Sri Lanka, which is on