News
ADB allocates USD 900 mn for Sri Lanka’s development in 2025
The Manila-based Asian Development Bank (ADB) has earmarked an indicative envelope of US$900 million for Sri Lanka’s development in 2025.
Subject to government approval, the funding will support macroeconomic stability, power, agriculture, finance, tourism, and skills development. The assistance will be provided through policy-based loans, results-based lending, investment projects, and technical assistance initiatives, according to senior representatives of the ADB in Sri Lanka.
ADB Country Operations Head Cholpon Mambetova stated that discussions are currently underway with the Sri Lankan government to determine the specific type of support required.
During the Country Programming Mission, scheduled for March, officials will finalise the project pipeline for 2025 to 2028.
“We have investment projects and a number of technical assistance projects provided on a grant basis, mainly to support government institutions in capacity development, analytical research, and institutional strengthening activities,” Mambetova said.
In the first quarter of 2025, the ADB will hold a Tripartite Portfolio Review Meeting (TPRM) with the Ministry of Finance and other line ministries.
The TPRM will assess the ongoing US$4 billion portfolio, reviewing project implementation, identifying challenges, and exploring solutions. “So far, we have had a good year. In terms of project implementation, none of our projects are at risk,” she added.
In 2024, the ADB allocated US$808 million for various projects, including:
Enhancing Small and Medium-sized Enterprise Finance Project – US$100 million
Power Sector Reforms and Financial Stability Programme (Subprogrammes 1 & 2) – US$300 million
Water Supply and Sanitation Reform Programme – US$100 million
Mahaweli Water Security Programme (Tranche 3) – US$93 million
Financial Sector Stability and Reform Programme (Subprogramme 2) – US$200 million
Energy Activities Supporting Facility (Activity 1) – US$15 million
ADB Country Director Takafumi Kadono emphasised the bank’s role in providing financial support when Sri Lanka lacks access to capital markets or other lending institutions.
“We do not provide budget support. Instead, we ensure that the country undertakes structural and policy reforms to address underlying weaknesses, enabling it to recover, rebuild, and achieve sustainable and inclusive growth,” he said.
Kadono further noted that ADB-financed projects undergo a rigorous due diligence process and are prioritised based on necessity.
“The investments we finance are critical, not just ‘nice to have’,” he added.
Foreign News
One dead in US after being struck by taking off Frontier Airlines plane
A person has died after jumping an airport perimeter fence in the US state of Colorado and being struck by a Frontier Airlines plane, according to authorities.
Denver International Airport said the unusual incident occurred late Friday, after the unidentified individual gained access to the tarmac.
It said the “pedestrian jumped the perimeter fence and was hit just two minutes later while crossing the runway”.
A brief engine fire followed the collision, which was put out by emergency responders, according to the airport.
It said that 12 of the 231 people on board suffered minor injuries, with five hospitalised.
The airport said investigators had examined the fence line where the individual entered and “found it to be intact”.
It added that the struck individual “is not believed to be an employee of the airport”.
“We are extremely saddened by this incident and express our sympathies to those involved,” the airport said.
Both local authorities and the National Transportation Safety Board (NTSB) were investigating the incident.
Airport safety in the US came under renewed scrutiny earlier this year amid a prolonged shutdown of the Department of Homeland Security (DHS), which temporarily left both Transportation Security Agents (TSA) and air traffic controllers working without pay.
While instances of people being killed on airport tarmacs are rare, Friday’s incident came a day after a Delta employee was killed after an airport vehicle struck an airbridge at Orlando International Airport.
In March, two pilots were killed after an Air Canada Express plane crashed into a fire-rescue vehicle at LaGuardia Airport in New York.
About 225,000 people travel through Denver International Airport a day.
[Aljazeera]
Latest News
Showers above 100 mm are likely at some places in the Western, Sabaragamuwa, Central, Southern, Uva, North-western and Northern provinces and in Anuradhapura district.
WEATHER FORECAST FOR 10 MAY 2026
Issued at 05.30 a.m. on 10 May 2026 by the Department of Meteorology
The low-level atmospheric disturbance in the vicinity of Sri Lanka is likely to develop into a low-pressure area around 11th of May. Therefore, the prevailing showery conditions over the island are expected to continue during the next few days.
Showers or thundershowers will occur at most places over the island, and cloudy skies are expected over the island. Heavy showers above 100 mm are likely at some places in the Western, Sabaragamuwa, Central, Southern, Uva, North-western and Northern provinces and in Anuradhapura district.
The general public is kindly requested to take adequate precautions to minimize damage caused by temporary localized strong winds and lightning during thundershowers.
News
Lanka Port City officials to meet investors in Dubai
ECONOMYNEXT –Colombo Port City (CPC) officials will head to Dubai to meet with investors on June 11, as Sri Lanka’s most ambitious economic zone looks for further foreign investments.
“We are meeting people in Dubai and the Middle East in order to demonstrate that Colombo Port City can be a supplementary zone of investment,” Harsha Amarasekara, Chairman, Colombo Port City Economic Commission (CPCEC), told Economynext.
The meeting will be organised by CPCEC, China Harbour Engineering Company, Consulate General of Sri Lanka – Dubai, and the Embassy of Sri Lanka – Abu Dhabi.
Foreign investor meetings have been a consistent factor in marketing CPC, and identifying potential markets has been a priority for CHEC and CPCEC.
“We have shortlisted and identified primary markets and we have combed the globe in that to say have a rationale behind why you would want to do certain things, a road show in a particular country,” Thulci Aluwihare, Deputy Managing Director, CHEC Port City Colombo, told Echelon Media.
“Once we kind of shortlist on that, then we aggressively go and market Port City, first Sri Lanka I should say, then Port City.”
“Sri Lanka is known in the world as a tourist destination, not essentially for a doing business capital. That is the narrative that we are trying to change,” he added.
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