Finance Minister leads Sri Lankan delegation to 52nd AGM of ADB

Apr 30, 2019 (LBO) – Finance Minister Mangala Samaraweera will lead the Sri Lankan Delegation to the 52nd Annual Meeting of the Board of Governors of the Asian Development Bank to be held in Nadi, Fiji from 2nd to 5th May 2019.

The Annual Meeting of the ADB Board of Governors provides opportunities for member governments to interact with ADB staff, nongovernment organizations (NGOs), and representatives of observer countries, international organizations, and the private sector. Delegates from 67 member countries will attend this meeting and the Sri Lankan delegates include Secretary to Treasury Dr. R.H.S. Samaratunga among other senior officials. ADB provides concessionary project loans to Sri Lanka annually amounting to approximately US dollar 800 million and there are already eight funding proposals in the pipeline to the tune of US dollars 815 million for the year 2019.

Of which the Port access elevated highway with US dollar 300 million funding is ongoing now. The negotiations for the Railway efficiency improvement project loan of US Dollar 160 million will be held in Colombo in May.

This project is aimed at improving the railway signaling system and the age-old ticketing system. On the sideline of the ADB annual meeting arrangements have also been made to conduct the SAARC conference of Ministers of Finance on May 02, at Nadi in Fiji.