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Last Updated : 2024-04-23 12:32:00
31 May 2023 06:12 am - 22 - {{hitsCtrl.values.hits}}
The loan agreement was signed by Finance Ministry Secretary Mahinda Siriwardana and Utsav Kumar, Deputy Country Director, ADB Resident Mission on Monday
State Minister of Finance Shehan Semasinghe welcomed Asian Development Bank’s approval of US$ 350 million loan to Sri Lanka for the stabilisation of the economy.
The Asian Development Bank (ADB) Monday approved US$350 million special policy-based loan to provide budget support to Sri Lanka for economic stabilisation as part of a broader package of financial assistance anchored by the International Monetary Fund’s Extended Fund Facility for the country.
“We welcome the ADB’s approval of US$350 million special policy-based loan to provide budget support to Sri Lanka as a part of a broader financial assistance based on IMF’s EFF for economic stabilisation, recovery and sustained growth,” Minister Semasinghe said in a tweet.
The State Minister of Finance assured that Sri Lanka will remain committed on reforms to address both internal and external imbalances required to return to a sustainable debt trajectory.
“We greatly value the emergency assistance provided by the ADB to support basic services and sustain livelihoods during the crisis,” he said.
Loanmaster Wednesday, 31 May 2023 07:06 AM
Another loan!!!! Existing loans defaulted and extended like a chewing gum!!! New loans keep coming... Guuess non of next 200 years generation will live debt free !!!!
Observationist Wednesday, 31 May 2023 08:00 AM
When did this country ever say no to receiving free doling from another country/ organisation? We will continue for the foreseeable future with more and more Aragalayas!
Jude Wednesday, 31 May 2023 08:05 AM
SL economy not gonna stabilize for another 25 years!! How can it help SL!?? Hello, it's a loan, More loans not gonna help the SL economic crisis. The government must do it the hard way, yeah make plans to increase the GDP!! No country in the world being developed by loans alone!! Back in 1977 JR did what's best then, first open up the economy, creating FTZ's , accelerated Mahaweli development etc. The economy was pretty stable then. Couple decades after that, politicians became greedy and corrupted to the core, now that's the bad side of capitalism. We should change the prevailing political system and infuse new political culture and that is in the hands of the SL VOTERS. Make the change, be part of history by electing රතු සහෝදරයන් as the Next government. People not gonna regret, for starters the Red brigade will eliminate Corruption in the government saving Multi billion rupees!! People do the right thing, the change has to come from you, period. Don't allow anyone to fool you!!
Jude Wednesday, 31 May 2023 08:07 AM
Loans loans loans more loans!! Hey get MORE loans to pay other loans!!
Jude Wednesday, 31 May 2023 08:11 AM
Remember, you can't start a Jumbo Jet with a Penlight Battery!! To revive SL economy you need like $300 Billion, yeah!!
Jude Wednesday, 31 May 2023 08:15 AM
SL economy could be stabilized and rivived instantly when the government corruption brought down to zero. Yeah!! Wishful thinking, but if you elect රතු සහෝදරයන් it's absolutely possible!!
Begging Bowl Wednesday, 31 May 2023 08:37 AM
The main thing is that the citizens want to see that there is no waste, no corruption and no hanky panky in the use of these Loans.
BuffaloaCitizen Wednesday, 31 May 2023 10:53 AM
Oh realy, the citizens... are they so wise? If so, why did they vote for racism in the last elections that dumped this country to oblivion? Never knew we had knowledgeable citizen rather than selfish shit holes in this country.
Polukarayage duppatha Wednesday, 31 May 2023 10:45 AM
RW's clueless Govt. is trying to portray Loans as grants, without even mentioning the Rate of Interest.
Bertram Wednesday, 31 May 2023 10:58 AM
WB and ADB are all foolish to give these which will have to be complete write off in years to come. These monies will only go to stabilize the corrupt rulers and their families who have no mandate to govern the country.
Ram Wednesday, 31 May 2023 11:22 AM
We receive loan after loan but cannot see the economy stabilising. I can see the political power stabilising
Alankanam Seethumba Wednesday, 31 May 2023 11:38 AM
Kiri Bath Ala hodi!!
Imtias Wednesday, 31 May 2023 11:41 AM
Do all other countries give similar propaganda for all the loans they receive or is this a simple gesture of thanks ?
neil Wednesday, 31 May 2023 11:42 AM
What is happening to the 4.5 Billion Dollars law suit of X Press pearl. 350 million S is peanuts compared to it! nobody from government interested
jan Wednesday, 31 May 2023 12:00 PM
OMG 350 USD$_ MILLION,250 USD$$MILLION LOANS RAINING ANOTHER 15 BILLIONS USD HAVE TO PAY ,STATE INSTITUTIONS, TRINCOMALEE HARBOUR,GALLE FACE GREEN, ARMY HEAD QUARTERS,COLOMBO HARBOUR,SLIC, PETROLEUM, EPF, ETF, LOANED BILLIONS,ALL PREPARED TO SOLD,FOR TRILLIONS OF USD $$ STILL RAINING BILLIONS OF AID, WHAT'S HAPPENING TO TRILLIONS OF USD$$$$$$$???? SRILANKANS DYING COL HIGH ROCKETING??? WHO'S RESPONSIBLE
Dharmatileke Wednesday, 31 May 2023 12:16 PM
What else can we do other than “ Welcome“ the dollars
Eper Wednesday, 31 May 2023 12:22 PM
All of us are getting indebted to the international world and there are no signs of significant dollar income sources which will stabilize the economy. If not for foreign employment income which gives us 100% dollar earnings by selling our valuable labor overseas, we would have been in a disastrous situation. Why cannot we make use of our labor locally and earn valuable foreign exchange (such as India/China/Bangladesh etc) of agricultural and industrial products as our citizens should be treated in a dignified manner by not working as maids is foreigners.We should also be more feasible in order to attract foreign investors
LankanLover Wednesday, 31 May 2023 12:39 PM
All I can see is LOAN everywhere....
P Pelpola Wednesday, 31 May 2023 12:57 PM
That money is not going last for even 2 months. The people of Sri Lanka not going to see a cent of that money, That money is not enough to maintain the government parliamentary group. Now go to the street and rejoice by cooking “KIRIBATH” and lighting fireworks.This is the only country rejoice when you get a loan from another country.
Nadi Karunaratne Wednesday, 31 May 2023 01:01 PM
More loans for corrupt politicians to squander. The ADB and IMF should know not to give matches to habitual arsonists. The money ends up in Dubai, Zurich and London but it's the people who have to pay it back.
Sri Lankan Wednesday, 31 May 2023 01:07 PM
Loans after loans. These loans are going to stabilize who's pockets? We were a developing country once upon a time and we will always be a developing country forever, if not become underdeveloped... The future of our country and the children is so bleak and for the next 200 years nothing is going to change if not for worse... The damage they have done to our wonderful country... May god bless us all.
UMAS ALI Thursday, 01 June 2023 11:51 AM
NEW LOANS COMMING AND MR MAHINDA AND BASIL RAJAPAKSA POCKETS ARE BULGING. BASIL WILL TAKE THE LOOTED MONEY TO AMERICA ON HIS NEXT VIST
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