Sri Lanka: Asian Development Bank Member Fact Sheet 2017

Abstract

Since 2006, Sri Lanka has more than halved its poverty rate and made good progress in human development. However, while the country now stands on the cusp of reaching upper middle-income status, it needs to maintain its growth momentum and take steps to achieve and sustain quality growth. Over the next 5 years, the Asian Development Bank (ADB) will contribute to the Government of Sri Lanka’s key development goals of job creation, income enhancement, rural economic development, knowledge formation, and economic diversification (including export development). ADB has worked closely with Sri Lanka since 1966, signing loans, grants, and technical assistance totaling $9.1 billion as of 31 December 2017. Cumulative disbursements to Sri Lanka for lending and grants financed by ordinary capital resources (OCR), the Asian Development Fund, and other special funds amount to $6.27 billion.