Debt-ridden Sri Lanka gets $350 million loan from Asian Development Bank1 min read 29 May 2023, 02:31 PM IST
As a part of International Monetary Fund (IMF)'s relief assistance for Sri Lanka, the Asian Development Bank, on Monday announced a %350 million loan to Sri Lanka for economic stabilisation
In a sigh of relief for the debt-struck island nation, the Asian Development Bank (ADB) approved a $350 million special loan to Sri Lanka on Monday. The loan is a special policy-based monetary assistance. It will provide a budget support to Sri Lanka for economic stabilisation, said ADB in its statement.