SL asks ADB for reclassification to access concessionary loans

Foreign Minister Ali Sabry, in his meeting with the President of the Asian Development Bank (ADB) Masatsugu Asakawa, asked for the reclassification of Sri Lanka so that it can have access to low-interest concessionary loans.

The Minister told Daily Mirror over the phone from Seoul, South Korea that he had productive meetings with the ADB leaders.

Sri Lanka is currently classified as an upper-middle-income country.

The Minister said he made a similar request to the World Bank earlier and it acceded to it.

“I made the same request to the ADB,” he said.

Also, he met Shixin Chen, the Vice President of the ADB and discussed what he tweeted ‘the way forward in partnership.'

Mr. Sabry is in Seoul to attend the meeting of the Board of Governors of the Asian Development Bank (ADB), representing President Ranil Wickemesinghe.

The Annual Meeting is a high-level event attended by around 3,000-4,000 participants, including Ministers of Finance, Governors of Central Banks, Senior Officials of the major global banks, companies and media.(Kelum Bandara)