Sri Lanka's Cabinet approves $200m ADB loan for financial sector reforms and stabilization.

Sri Lanka's Cabinet has approved a $200 million loan from the Asian Development Bank to support financial sector reforms and stabilization. This funding is part of a larger initiative, with a total of $400 million agreed upon in September 2023. The loan aims to address financial instability and includes plans for a financial stability fund, essential for managing crisis resolution, following a significant economic crisis two years ago.

September 10, 2024
10 Articles