In order to get out of the current economic crisis, the Asian Development Bank (ADB) has approved a loan amounting to 350 million dollars in order to obtain new financial and technical support.
Along with the Extended Fund Facility approved by the International Monetary Fund (IMF), the Asian Development Bank has agreed to provide a $350 million special credit facility and another $1.5 million in technical assistance to strengthen policy-based stability and governance. The government says.
Accordingly, the Council of Ministers approved the proposal presented by President Ranil Wickramasinghe as the Minister of Finance, Economic Stabilization and National Policy to transfer the responsibility of preparing the next steps to obtain the relevant loan amount to the Ministry Secretary.
However, the government previously stated that as soon as the IMF money is approved, it will receive 7 billion dollars from the World Bank and the Asian Development Bank.
But it is a special event that no money has been received from those two institutions till now.
