Business

Finance Minister leads delegation for 52nd ADB meeting

Minister of Finance Mangala Samaraweera will lead the Sri Lankan Delegation to the 52nd Annual Meeting of the Board of Governors of the Asian Development Bank (ADB) to be held in Nadi, Fiji from 2 to 5 May 2019.

The Annual Meeting of the ADB Board of Governors provides opportunities for member governments to interact with ADB staff, nongovernment organizations (NGOs), and representatives of observer countries, international organizations, and the private sector.

ADB’s annual meetings have become a premier forum for the discussion of economic and social development issues in Asia and the Pacific.

Delegates from 67 member countries will attend this meeting and the Sri Lankan delegates include Secretary to Treasury Dr R.H.S. Samaratunga, Deputy Secretary to Treasury A. M. P. M. B. Atapattu, Director General of the External Resources Department Priyantha Rathnayake Director General of the National Planning Department S.S. Mudalige and other senior officials from the Ministry of Finance.

ADB provides concessionary project loans to Sri Lanka annually amounting to approximately US dollar 800 million and there are already eight funding proposals in the pipeline  to the tune of US Dollars 815 million for the year 2019. Of which the Port access elevated highway with US dollar 300 million funding is ongoing now.

The negotiations for the Railway efficiency improvement project loan of US Dollar 160 million will be held in Colombo in May. This project is aimed at improving the railway signalling system and the age-old ticketing system.

On the sideline of the ADB annual meeting arrangements have also been made to conduct the SAARC conference of Ministers of Finance on May 02, at Nadi in Fiji.

Courtesy- Ministry of Finance