ADB Financial Support
The Asian Development Bank has increased its financial allocation to Sri Lanka from USD 380 million to USD 480 million. This additional support comes amid the ongoing economic crisis in the country, with a prompt release of USD 200 million planned.
Looks like the Asian Development Bank just gave Sri Lanka the financial equivalent of a "break a leg" card - except in this case, it's more like "here's some cash, maybe don't completely break everything this time." At USD 480 million, it's basically economic CPR with extra zeros.
The Asian Development Bank (ADB) has agreed to increase the allocation approved for Sri Lanka for this year from USD 380 million to USD 480 million and to promptly release USD 200 million in view of the prevailing situation. This was conveyed during a meeting held this afternoon https://t.co/e09SqvfWRZ
Sri Lanka secures USD 480 Million ADB support amid crisis 𝐑𝐞𝐚𝐝 𝐦𝐨𝐫𝐞 👇 https://t.co/7jGyJR5ihx #SriLanka #Breaking
The Asian Development Bank has increased the USD 380 million approved for Sri Lanka for this year to USD 480 million.- PMD @ADB_HQ #SriLanka @PMDNewsGov https://t.co/HrxMl4aNN4
ADB increases Sri Lanka’s allocation to $480 Mn; $200 Mn to be released promptly Read more: https://t.co/Io7WjiifXu #lka #srilanka #adaderana #news #lanka #SriLankaNews #SriLanka #ADB #AsianDevelopmentBank #ApprovedFunding #allocation #CycloneDitwah #ditwah https://t.co/PEg8dPqdyo
ADB increases Sri Lanka allocation to USD 480 million amid current crisis https://t.co/udY2TZRJ9R