Press briefing of Cabinet Decision taken on 2023-04-24

Obtaining a special policy based lending from the Asian Development Bank for the Economic Stabilization program

- In parallel with the Extended Fund Facility approved by the International Monetary Fund, the Asian Development Bank has agreed to provide a US$ 350 million Special Policy Based Lending Facility and a technical assistance of US$ 1.5 million to strengthen the stability and governance of Sri Lanka. Accordingly, the proposal made by the Hon. President in his capacity as the Minister of Finance, Economic Stabilization and National Policies to authorize the Secretary of the Ministry of Finance, Economic Stabilization and National Policies to proceed with the relevant loan, was approved by the Cabinet.