ADB Allocates USD 786M for Development of SME’s

CEYLON TODAY | Published: 2:00 AM Jan 12 2022
News ADB Allocates USD 786M for Development of SME’s

The Asian Development Bank (ADB) has allocated US$ 786 million to Sri Lanka for the implementation of 27 projects in 2022, and its Vice President Shixin Chen has said that the Bank will help the country’s Small and Medium Enterprises (SMEs) sector for economic development.

ADB’s Annual Meeting will be held in Sri Lanka from 2 to 5 May, with 68 countries in attendance. Concurrently, arrangements are being made to organise a number of activities, including business conferences.

The Vice President Chen made these remarks when he met President Gotabaya Rajapaksa at the Presidential Secretariat, yesterday (10).

The communiqué from President’s Media Centre stated that about 5,000 local and foreign representatives are expected to attend the event. The annual meeting will be held under the theme ‘Positioning Climate Resilient Green Economy for the Post Covid-19 World.’ The ADB Vice President commended the Government’s successful Covid-19 vaccination programme and its streamlined health mechanism. President Rajapaksa said that the Government and the people of Sri Lanka are grateful for the assistance provided by the ADB to make the vaccination programme a success.

Chen commended the success of ongoing projects with the assistance of ADB. He further said that ADB is ready to provide funds to restructure several State- owned enterprises.

ADB Senior Advisor Aiming Zhou, Country Director of Sri Lanka Resident Mission Chen Chen, Secretary General Muhammad Ehsan Khan, Deputy Country Director Utsav Kumar, Secretary to the President P.B. Jayasundera, Finance Secretary S.R.Attygalle, Deputy Secretary to the Treasury R.M.P Rathnayake, Director General of the External Resources Department Ajith Abeysekera and CEO Dr. D.S. Jayaweera were also present.

CEYLON TODAY | Published: 2:00 AM Jan 12 2022

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