ADB Vice President commends Sri Lanka’s commitment to economic revival through reforms
Posted on December 5th, 2022

Courtesy Adaderana

Vice President of Asian Development Bank (ADB) Shixin Chen said international monetary agencies are highly impressed with the strength of the Sri Lankan leadership and its commitment to achieve speedy economic revival through reforms in monetary sectors, the PM’s Office reported.

He stated this when he called on Prime Minister Dinesh Gunawardena today (Dec. 5) at the Prime Minister’s Office in Colombo. 

He said the current visit is aimed at finalizing proposed ADB projects for next year and assured ADB’s support for the country’s development and its efforts to overcome economic and fiscal challenges.

The Prime Minister briefed him about the steps taken by the government to revive the economy and to enact reforms in fiscal sectors as well as to restructure energy, electricity and petroleum sectors, the statement said.

ADB Vice President stressed the need for controlling inflation and to protect vulnerable, under-privileged sections of the society. The Prime Minister explained the programmes aimed at protecting the vulnerable groups of the society and rural agricultural development plans to increase production and increase export of surplus.

Mr. Shixin Chen said the ADB could provide technical assistance in addition to project support.

The Prime Minister thanked the ADB for emergency assistance loans and grants provided during Covid-19 pandemic as well as during the current economic difficulties.

He said the ADB supported projects provide crucial support to the government in extending assistance to vulnerable groups and restoring the livelihood of the poor and vulnerable, including farmers.

ADB has been addressing immediate needs, such as essential medical supplies, materials for water treatment, and working capital for small and medium-sized enterprises by reallocating surplus loan proceeds from ongoing loans.

Secretary to the Prime Minister Anura Dissanayake and ADB Senior Advisor Aiming Shou, Economic Advisor Rana Hasan, Country Director Chen Chen, senior officials Aminur Rahman and Santosh Pokharel were also present at the discussion.

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