ADB approves $ 100 m to strengthen Sri Lanka's fiscal resilience and transparency

Funding to improve public expenditure management and revenue mobilisation, To support key reforms such as PPPs, procurement, develop a comprehensive Fiscal Risk Statement, climate finance strategy, SDG budget tagging and gendersensitive Nationally Determined Contribution to address gender gaps

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THE Asian Development Bank (ADB) yesterday said. it has approved a $ 100 million financing package to build on Sri Lanka's progress toward macroeconomic stability and to help achieve sustainable growth following the economic crisis.

This will be done by strengthening public expenditure management, improving revenue mobilisation, and fostering private sector participations.

ADB Sri Lanka Country Director Takafumi Kadono said: "Sri Lanka has made commendable progress in restoring fiscal and debt sustainability following an unprecedented economic crisis. We will work closely with the Government to restore macroeconomic stability and promote inclusive, sustainable growth by strengthening Sri Lanka's fiscal governance and build a more efficient, accountable, and resilient public sector".