ADB affirms long-term support for Sri Lanka in meeting with Sri Lanka’s President
Daily FT: The newly appointed Country Director of the Asian Development Bank (ADB) for Sri Lanka, Shannon Cowlin, paid a courtesy call on President Anura Kumara Dissanayake at the Presidential Secretariat this week, reaffirming the ADB’s continued commitment to supporting Sri Lanka’s development priorities.
The meeting marked the formal introduction of the new ADB Country Director for Sri Lanka, who was presented to the President by the Regional Director overseeing the country portfolio.
During the meeting, ADB representatives reaffirmed to the President their commitment to sustained assistance under the Bank’s ongoing program. The discussions reflected the strong partnership between Sri Lanka and the ADB, as well as the institution’s satisfaction with the implementation of its programmes in the country.
ADB representatives expressed satisfaction with the manner in which Sri Lanka has implemented ADB-supported programmes and with the effectiveness of institutional coordination. They reiterated the Bank’s intention to continue and deepen its engagement, building on the strong partnership established over the years.
Key focus areas included post-Cyclone Ditwah response and recovery priorities, with an emphasis on strengthening resilience and accelerating reconstruction efforts.
President Dissanayake emphasised that economic progress must translate into tangible benefits for the people, particularly in vulnerable regions.
Highlighting the long-standing environmental impact in the Central Highlands and mountainous areas, the President underscored the urgent need to restore ecosystems, protect water sources, and ensure sustainable livelihoods for affected communities.
He welcomed the ADB’s willingness to extend assistance to address these challenges, noting its importance for long-term national resilience.
The discussions reaffirmed Sri Lanka’s and the ADB’s shared commitment to inclusive and sustainable development, while reviewing ongoing cooperation and future engagement, including budgetary support, planned investments from 2026 onwards, and a forthcoming visit by the President of the Asian Development Bank in mid-2026.
OSL take:
Sri Lanka’s economic resilience to external and internal challenges through the years and the quick turnaround following the economic crisis faced by the country in 2022, have increased the confidence among foreign businesses/investors as well as multilateral financial institutions in Sri Lanka. The continued financial support pledged by multilateral financial institutions would help Sri Lanka’s development programme, which in turn would also present many business/investment opportunities. With Sri Lanka on the path to becoming a hub in the South Asian region supported by Sri Lanka’s geographical positioning in the Indian Ocean, strong trade ties enjoyed with many foreign countries and the improving business conducive environment in the country also indicate the country’s attraction as an emerging business destination in the region. Given these factors, foreign businesses/investors while exploring the expanding business/investment opportunities in Sri Lanka could also look at expanding operations through partnerships or joint ventures with local businesses.
| Article Code : | VBS/AT/20260217/Z_4 |