The ADB on Wednesday sanctioned a US$ 70 million loan package to kick start the Sri Lanka n rural finance sector.
The Program aims to revive the rural economy and promote private-sector led economic growth. rn
rnThe program loan will promote policy changes that emphasize good governance and improved operations of rural finance institutions. rn
rnDrafting a legal and regulatory framework and institutional reforms, and expand rural finance in conflict-affected areas will also be included, the ADB said on Wednesday. rn
rnIt will also support the demand side of rural finance by involving rural communities in partnership with non-government organizations in identifying, planning, executing, and monitoring subprojects. rn
rnThe ADB says ldblquote the project loans will strengthen key sector institutions that provide training in rural finance, and improve efficiency of service delivery, sector supervision, and outreach expansion.
rnSri Lankas rural finance sector includes savings, credit