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The Asian Development Bank (ADB) approved a $200 million concessional loan to the Government of Sri Lanka to help stabilize the country’s finance - Get the latest breaking news and top stories from Sri Lanka, the latest political news, sports news, weather updates, exam results, business news, entertainment news, world news and much more from News 1st, Sri Lanka's leading news network.
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The Asian Development Bank said Friday that it has approved $200-million concessional loan to debt-stricken Sri Lanka to help stabilize the country’s finance sector following an unprecedented economic crisis that engulfed the Indian Ocean island nation last year. The bank's announcement comes as Sri Lanka is awaiting International Monetary Fund approval for the second installment of a $2.9-billion bailout package to rescue the country from bankruptcy. The ADB said its Financial Sector Stability and Reforms Program for Sri Lanka includes two subprograms of $200 million each that w...