Sri Lanka’s cabinet of ministers has given the green light to borrow $100 million from the Asian Development Bank, according to a statement from the state information office.
This loan represents the initial installment of a $300 million program, as noted in the statement.
The approval follows the recent passage of an Electricity Law in Sri Lanka, which is tied to budget support loans.
These budget support loans are a component of the reform and debt restructuring program supported by the International Monetary Fund.
