The Cabinet of Ministers has approved a joint proposal by the Ministers of Foreign Affairs and Urban Development to sign a loan agreement with the Asian Development Bank (ADB) for a $100 million sustainable tourism development programme.

The loan will include a $70 million policy-based facility and an investment component.

According to the Government, the investment projects will focus on Trincomalee and Dambulla, including the Sigiriya area, to increase their contribution to the regional economy.

The initiatives are aimed at improving travel capacity, encouraging longer tourist stays, and strengthening the regional economy. The Ministry of Urban Development will oversee the investment activities.