Oct 28, 2011 (LBO) – The Asian Development Bank said its program for Sri Lanka from 2012 will focus on public private partnerships in infrastructure, boosting human resources and lagging regional including former war zones. “ADB will also provide nonsovereign loans to reforming state-owned enterprises to expose them to alternate sources of finance. Private investments will be catalyzed through cofinancing using ADB’s credit enhancement products.”
As demand grows for an educated and skilled labor force ADB said it will support skills development with a focus on cutting gender disparities and improving technical and vocational institutes.
The CPS will promote environmental protection directly and also support multi-modal transport systems to help ease road congestion and air pollution.
The ADB said Sri Lanka had good prospects for growth around 8.0 percent per year following the end of a three decades war but the country faced infrastructure and human resource deficit in meeting the government’s development targets.
“To be effective, ADB’s operations will be strategically focused on a few sectors,” said Narhari Rao, lead economist at ADB’s Sri Lanka mission said in a statement.
“ADB will suppor