ECONOMYNEXT – Manila-based Asian Development Bank will resume financing projects under its 2024-2028 country partnership strategy along with budget support loans linked to reforms, Country Director Takafumi Kadono said.

The ADB was focusing on budget support loans with the start of an IMF program, but from late in 2024 project finance is likely to start depending on Sri Lanka’s capacity to borrow, he said.

Irrigation, education and health likely areas for project financing in the near term.

ADB is looking to provide technical support and knowledge under its new operating model of finance ++, by going beyond financing, bringing experts for required areas

ADB will also support private sector activity and public private partnerships, Utsav Kumar – Deputy Country Director Sri Lanka Mission said.

ADB was also working on a green bonds framework, he said. (Colombo/Apr03/2024)