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Sri Lanka Secures USD 100 Million ADB Loan to Boost Sustainable Tourism

The Government of Sri Lanka has received Cabinet approval to secure a USD 100 million loan from the Asian Development Bank (ADB) for the implementation of the Sustainable Tourism Sector Development Programme (STSDP).

The initiative, previously approved by the Cabinet, aims to strengthen Sri Lanka’s tourism industry through sustainable practices and infrastructure development. Following successful negotiations with the ADB, the loan will comprise USD 70 million from concessionary general capital resources and USD 30 million from ordinary capital resources.

The Central Bank of Sri Lanka and the Attorney General’s Department have both cleared the loan arrangement. Consequently, the Cabinet has authorized the proposal submitted by the President, in his capacity as Minister of Finance, Plan Implementation, and Economic Development, to formalize the loan agreement with the ADB.

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12 months ago

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