Sri Lanka received the highest funding from ADB – Sarath Amunugama

Sri Lanka received the highest funding from ADB – Sarath Amunugama

Written by Staff Writer

07 May, 2014 | 2:10 pm

Senior Minister of International Monetary Cooperation, Prof Sarath Amunugama says that Sri Lanka received the highest funding from the Asian Development Bank this time around.

He made this statement upon his return to the country after attending the annual conference of the Asian Development Bank held in Kazaksthan.

“We received close to 600 million dollars which is the largest sum of money that we have received. The money was given at a concessionary interest rate. Several development projects are underway. Projects to build new roads, improve infrastructure facilities and we are currently holding discussions to build around 1000 new towns. What is most important is that China will be establishing a development bank similar to the ADB and a sum of around 50 billion dollars has been allocated. Sri Lanka will be a member of this as well. It will be named the Asian Infrastructure Bank.”

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