ECONOMYNEXT – Sri Lanka’s Finance Ministry has inked agreements to borrow 300 million US dollars from the Asian Development Bank, were approved by its board in recent weeks of which 270 million dollars are policy-based or ‘budget support’ credits. A 100 million dollars came from a policy-based loans on Financial Sector Stability and Reforms Program (Subprogram 3) from the ADB’s Concessional Ordinary Capital Resources window after 11 policy actions on strengthening governance in the banking sector, the Finance Ministry said. Another 100 million dollars came from Strengthening Macroeconomic Resilience and Transparency Program (Subprogram 1), from Concessional Ordinary Capital Resources after…
Sri Lanka signs US$300mn in mostly budget support loans from ADB
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