1 May 2019 04:38 pm
Finance Minister Mangala Samaraweera will lead the Sri Lankan delegation to the 52nd Annual General Meeting of the Board of Governors of the Asian Development Bank (ADB) to be held in Nadi, Fiji from May 2 to 5.
The Annual General Meeting of the ADB Board of Governors provide 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 delegation includes Treasury Secretary Dr. R.H.S. Samaratunga, Deputy Treasury Secretary A.M.P.M.B. Atapattu, External Resources Department Director General Priyantha Rathnayake, National Planning Department Director General S.S. Mudalige and other senior Finance Ministry officials.
ADB provides concessionary project loans to Sri Lanka annually amounting to approximately US $ 800 million, and there are already eight funding proposals in the pipeline to the tune of US $ 815 million for the year 2019 of which, the port access elevated highway with US $ 300 million funding is ongoing.
The negotiations for the railway efficiency improvement project loan of US $ 160 million are expected to be held in Colombo this month. This project is aimed at improving the railway signaling 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 Finance Ministers on May 02 at Nadi in Fiji.