Sri Lanka’s Cabinet of Ministers has approved a proposal to conduct loan negotiations with the Asian Development Bank (ADB) to obtain a loan of US$ 250 million for the proposed Capital Market Development Programme.

Announcing the Cabinet decisions today (7), the government said:

“The proposal made by Ravi Karunanayake, Minister of Finance, to conduct loan negotiations with the Asian Development Bank (ADB) to obtain a loan of US$ 250 million for the development of an efficient, fixed and transparent Capital Market with a strong legal and regulatory framework, with the view of collecting financial resources required for the economic development productively through Sri Lankan Capital Market, was approved by the Cabinet of Ministers.”