Current Affairs - Finance - Discussion

The Asian Development Bank (ADB) has provided a significant boost to Sri Lanka's financial sector with a $200 million policy-based loan. This loan, the second subprogram under ADB's Financial Sector Stability and Reforms Program, aims to stabilize Sri Lanka's economy and address the ongoing financial crisis. As a leading regional financial institution established in 1966, ADB plays a vital role in promoting economic growth and development in Asia. Headquartered in Manila, Philippines, and led by President Masatsugu Asakawa, ADB's support is crucial for Sri Lanka's economic recovery and long-term financial stability.