Sri Lanka Secures $300M from ADB for Economic Revival

Sri Lanka has obtained $300 million in financial assistance from the Asian Development Bank to promote economic stability. This aid will be distributed in three tranches aimed at financial sector reform, macroeconomic resilience, and sustainable tourism. The funds also target developing tourism in Trincomalee and Sigiriya.

Sri Lanka announced on Tuesday that it has locked in $300 million in financial aid from the Asian Development Bank (ADB) to bolster economic stability.

The package will be released in three $100 million tranches to strengthen financial sector stability, enhance macroeconomic resilience, and develop a sustainable tourism sector, according to a finance ministry press release.

The funds will also be directed towards expanding tourism in Trincomalee and Sigiriya, while supporting broader reforms in the Central Bank and public financial management.

(With inputs from agencies.)