ECONOMYNEXT – Sri Lanka’s Cabinet of Ministers has approved a proposal to obtain USD 100 million from the Asian Development Bank (ADB) to implement the Sustainable Tourism Sector Development Programme (STSDP) in the country, the government said. Out of this ADB loan, USD 70 million will be obtained from concessionary general capital resources and USD 30 million from permanent general capital resources, the government said in its cabinet decision document. “Clearance have been granted by the Central Bank of Sri Lanka and the Attorney General’s Department to obtain the above loan facility,” it said. The Cabinet has granted approval to…
Sri Lanka approves borrowing $100mn from ADB for tourism
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