Lankan President holds talk with ADB president on development projects

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Colombo, Feb 23(ANI): Sri Lankan President Maithripala Sirisena has held discussions with the President of the Asian Development Bank (ADB) Takehiko Nakao on the development projects funded by the lender.

The ADB Chief, who arrived in Sri Lanka last night on a two-day official visit called on President Sirisena on Tuesday at the Presidential Secretariat, reports Lanka page website.

President Sirisena discussed some of the new projects including a Rural Electrification Project of 70 million dollars, an SME Credit Line of 100 million dollars and a Local Government Enhancement Sector Project costing 40 million dollars.

The ADB last week expressed its interest to increase its funding portfolio by more than 1.2 billion dollars in the next three years. A new Country Partnership Strategy is also on the cards to cover the period 2017-2021.

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As of July 2015, ADB has approved a total of 194 loans, to Sri Lanka, both sovereign and non-sovereign, with a cumulative lending of billion dollars.

Sirisena thanked the ADB for the assistance provided for development projects in Sri Lanka.(ANI)

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