The Cabinet of Ministers granted approval to the proposal submitted by the President in his office as the Minister of Finance, Economic Stabilization and National Policies to enter into a loan agreement with the Asian Development Bank to obtain an amount of United States dollars 200 million subject to an annual interest rate of 2% with a repaying period of 25 years inclusive of a grace period of 05 years, to implement accelerated reformations to enhance the conflict management framework and the stabilization in the finance sector.
Initial discussions with the ADB have been held by the Sri Lankan Government to obtain 02 loan facilities worth USD 200 million each based on policies to implement 02 sub-programmes under the economic stabilization and reformation programme.
Furthermore, it has been proposed to implement accelerated reformations to enhance the conflict management framework and the stabilization in the finance sector under the first sub-programme while it has been proposed to develop an all-inclusive resistant finance system under the second sub-programme.
