COLOMBO, SRI LANKA — The Asian Development Bank (ADB) has announced an additional $100 million in budget support for Sri Lanka, bringing its total planned assistance for 2026 to $480 million. The aid is aimed at helping the country manage economic pressures from the Middle East conflict, including rising oil prices, supply chain disruptions, and declining remittances. ADB President Masato Kanda emphasized that the support will help Sri Lanka transition from crisis recovery to sustained growth and resilience.
During his visit, Kanda assessed cyclone damage in Kegalle District and announced a fast-tracked $200 million Emergency Assistance Loan to restore transport networks, irrigation canals, and livelihoods. He also visited Colombo Port to review ADB-funded infrastructure projects that enhance connectivity and trade capacity.
Looking ahead, ADB plans to scale up its program in Sri Lanka to over $1 billion, focusing on structural reforms, resilient infrastructure, human capital development, and mobilizing private sector investment through bankable projects and risk-sharing instruments to promote a competitive, export-oriented economy.
Founded in 1966, ADB is a multilateral development bank owned by 69 members, supporting sustainable and inclusive growth across Asia and the Pacific.
