ADB has been a strong and continuous supporter of Sri Lanka’s development. Under the Government of Sri Lanka’s 10-year plan, ADB primarily supports infrastructure development. The new country partnership strategy also addresses important crosscutting issues such as governance and capacity development.                             

Sri Lanka has received $4.21 billion for 141 public and private  sector loans and $94.50 million for 224 technical assistance projects since  joining ADB in 1966. As of December 2007, there were 46 ongoing public sector  loans for a total loan amount of $1.5 billion, including $155 million in three  program loans and a $150 million grant from the Asian Tsunami Fund. Of these 46  loans, 12 were financed from ordinary capital resources (OCR) and 33 from the  Asian Development Fund (ADF). As of 31 December 2007, 69% of the total approved  amount had been disbursed.

ADB assistance to Sri Lanka has gradually moved  from agriculture and natural resources to power, roads, and education sectors.  Since 2001, ADB has also provided extensive support to the reconstruction of  the North and East and to the post-tsunami reconstruction.

The current loan portfolio for Sri Lanka falls  under 8 categories: agriculture, forestry and natural resources, urban  development and water supply, education, energy, transport and communication,  industry and finance, and relief and rehabilitation.

Last year, ADB accounted for US$133 million in  disbursement—about 13% of total disbursements from various donors.

The Asian Development Bank (ADB) is a  multilateral development finance institution, based in Manila. It is dedicated to reducing  poverty in the Asia and Pacific region through  inclusive economic growth, environmentally sustainable growth, and regional  integration.

Established in 1966, it is owned by 67 members—48  from the region. In 2007, it approved $10.1 billion of loans, $673 million of  grant projects, and technical assistance amounting to $243 million.

ADB’s principal tools are loans,  guarantees, and technical assistance, which it mainly provides to governments  for specific projects and programs. ADB’s new long-term strategy, Strategy 2020, sets ADB’s strategic course  for its operations to the year 2020. It reshapes, redirects, and repositions  ADB for a more innovative and effective development role in a rapidly changing  region.

To fight  poverty in a region of more than 600 million poor people surviving on $1 a day,  Strategy 2020 will refocus ADB operations on three development agenda—inclusive  economic growth, environmentally sustainable growth, and regional integration.

By 2012,  80% of ADB’s lending will be in five core operational areas identified as ADB’s  comparative strengths:

 

• Infrastructure  
• Environment  
• Regional cooperation  and integration  
• Finance sector development  
• Education

By 2020,  about 50% of operations will be in private sector development and private  sector operations, and 30% in regional cooperation and integration. ADB will  continue to operate on a more selective basis in health, agriculture, and  disaster and emergency assistance.

Learn More About ADB in Sri Lanka