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| Sunday, 30 May 2004 |
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ADB aid of $220m for local projects by Elmo Leonard Asian Development Bank's (ADB's) aid to Sri Lanka this year amounts to $220 million, ADB's vice president, Liqun Jin, who was in Sri Lanka last week, told the media. Last year, ADB assistance was $275 million, the highest amount given so far. ADB's contribution supports development projects throughout the country in critical sectors such as energy, transport and education. It ranges from large infrastructure projects like the Southern expressway, to a water supply project for Hambantota and the increasing post conflict operations in the North-East, ADB's country director in Sri Lanka, John Cooney said. The ADB vice president, met with the President, Prime Minister, Finance Minister and other key ministers, during his visit here. "I am pleased and encouraged to hear from the government its commitment to the peace process and in reaching a negotiated settlement to the devastating conflict that has drained the country of its resources for over two decades," he said. Jin said the ADB would like to see "efficiency in economic management and courage in policy making" to effect the many changes needed in the economy during the country's transition from conflict to peace and from an economy dominated by the State to one in which the private sector plays a leading role. |
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