Views: 212

ADB - Sri Lanka Partnership Strategy

adb-sri-lanka-partnership-strategy

Share this article   

ADB's interim country partnership strategy (CPS), 2015-2016 for Sri Lanka includes the agriculture, natural resources, and rural development as priority sectors to strengthen the country's drive toward inclusive growth. Other strategic thrusts and priority sectors remain the same as in the CPS, 2012-2016.

Under the country operations business plan (COBP), 2016-2018, ADB operations will strengthen its support for human capital development to help Sri Lanka become a competitive economy. Lending for education will be more than tripled to $1 billion for the next 5 years in line with the government priority for human capital development to ensure equity of the social market economy vision, and the plan to gradually increase education expenditure to 6% of gross domestic product. Some hard infrastructure projects focus on the final stage of ongoing development, such as for rural road connectivity and rural electrification. The Small and Medium-Sized Enterprise (SME) Credit Facility is programmed to support the government’s emphasis on inclusive growth. Accordingly, the following new proposed projects are included into the lending pipeline for 2016-2018:

  • Rural Electrification Project: $70 million in 2016;
  • SME Credit Line: $100 million in 2016;
  • Local Government Enhancement Sector Project (additional financing): $40 million in 2016;
  • Science and Technology Human Resource Development Program: $100 million in 2017;
  • Colombo Suburban Railway Electrification Project: $300 million in 2018;
  • Second Education Sector Development Program: $200 million in 2018; and
  • Wind Power Generation Project: $200 million in 2018