ADB to support SMEs for SL’s economic development

TPL | Published: 10:37 AM Jan 11 2022
Local ADB to support SMEs for SL’s economic development

The Asian Development Bank (ADB) has pledged to support small and medium enterprises for Sri Lanka’s economic development.

ADB vice president Shixin Chen gave the promise when he met President Gotabaya Rajapaksa at the Presidential Secretariat in Colombo yesterday (10).

He commended the success of ongoing projects in Sri Lanka with ADB assistance and expressed readiness to fund the restructuring of several state-owned entities.

According to him, the ADB has allocated 786 million US dollars for 27 projects in Sri Lanka this year.

Meanwhile, Colombo will host the ADB’s annual meeting 02 to 05 May, with the participation of 68 countries.

Various related activities have been planned, including business conferences tipped to be attended by about 5,000 local and foreign representatives.

TPL | Published: 10:37 AM Jan 11 2022

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