Asian Development Bank approves $350 mln loan to Sri Lanka for economic stabilisation

The Asian Development Bank (ADB) on Monday approved a $350 million special policy-based loan to provide budget support to Sri Lanka for economic stabilisation, the regional lender said in a statement.

The program is part of a broader package of financial assistance anchored by the International Monetary Fund's Extended Fund Facility for the debt-ridden South Asian country, the ADB added.