MONETABRIEF - Sri Lanka's Cabinet has approved borrowing $200 million through policy loan linked to trade, investment and industrial development from Asian Development Bank, spokesman Nalinda Jayatissa said.
Negotiations on the loan have been completed and clearance from the Attorney General and the central bank has been obtained.
Budget support loans have no domestic investments and no imports as a result, and can be used for repaying debt.
They are given for reforms and liberalizations which will support economic activities, growth and future tax revenues.
Cabinet had also approved repurposing $10.1 million from the Asian Infrastructure Investment Bank originally earmarked for developing Colombo, to re-build houses in Puttalam and Kurunegala damaged by Cyclone Ditwah. (Colombo/Aug04/2026)