Accelerated development with war end

by Lalin FERNANDOPULLE

Asian Development Bank (ADB), one of Sri Lanka’s key development partners while welcoming the end of the war said that it has paved the way for an accelerated development program that would help boost the economy.

Country Representative ADB, Dr. Richard Vokes said Sri Lanka has an opportunity now to establish sustainable peace that meets the aspirations of all communities.

“President Mahinda Rajapaksa has indicated that, apart from meeting the urgent needs of the IDPs, the priority is to bring about reconciliation and implement an effective political solution”, Vokes said. He said the end of the war will also help boost confidence in the long term for future of Sri Lanka’s economy although the impact of peace dividends will be felt once the global economy revives.

The ADB recently made a 200 percent increase of its General Capital for the region the largest in the bank’s 43 year history which will benefit all the borrowers.

The bank’s activities in Sri Lanka are guided by its Country Strategic Plan (CSP) agreed with the government and endorsed by the Board last year. The CSP has strong focus on supporting development of transportation, water and power supply and sanitation with the aim of strengthening the investment climate.

Vokes said work on Batticaloa and Muttur water supply schemes is in progress while currently a loan is being processed for reconstruction of provincial roads.

A loan was approved last year to support the expansion of the Vavuniya, Mannar, Puttalam and Chilaw water supply schemes. ADB will fund livelihood development activities that will enable people to meet their daily financial needs.