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ADB allocates USD 900 mn for Sri Lanka’s development in 2025

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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.



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Iranian ships stranded, Lanka fears US sanctions

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‘Companies may face US sanctions’: Lanka to put ‘national interest’ first as 19 Iranian vessels seek help

(ToI) Sri Lanka said on Friday it would “prioritise our national interests” before providing assistance to the crews of 19 Iranian ships anchored in international waters near the island nation.The crews are facing shortages of food, water and fuel. A foreign ministry spokesperson cited the risk of US sanctions against Sri Lankan companies supplying the vessels as a key concern.

The United States and Iran have been at war since February 28, when the US and Israel launched joint strikes against the Islamic Republic.

“Sri Lanka will put its national interest first before considering any help, and the companies that supply ships are aware of possible secondary sanctions from the United States,” spokesperson Thushara Rodrigo told reporters, ruling out any immediate assistance to the vessels.

Rodrigo clarified, however, that Sri Lanka had received no communication from the United States warning of repercussions if it decided to assist the vessels.According to Rodrigo, the ships are stationed 24 nautical miles off Sri Lanka’s coast.The Iranian Embassy said it had no information on the matter.

In March, a US torpedo attack sank the Iranian naval vessel IRIS Dena in Sri Lankan waters, killing 87 sailors.

The ship was returning to Iran after participating in a naval exercise at India’s invitation. A second Iranian vessel was brought to a Sri Lankan port after its crew reported technical problems.

Wounded sailors were treated at Sri Lankan hospitals, while those rescued from the second vessel were safely repatriated to Iran.

Sri Lanka is still recovering from an economic crisis, with both the United States and Iran serving as important trading partners. Washington played a key role in securing an International Monetary Fund bailout and supporting Sri Lanka’s agricultural sector to help avert a food crisis.

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Sri Lanka CERT warns of overseas university admission scams

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Sri Lanka CERT has warned the public of fraudulent social media advertisements offering admission to foreign universities after receiving complaints from parents and students who have lost hundreds of thousands of rupees to scammers.

The fraudsters reportedly pose as representatives of reputed foreign universities, promising admission, student visas, work permits and even eventual citizenship in return for registration fees and initial tuition payments.

They use convincing videos, photographs and documents circulated via email and WhatsApp to gain the confidence of unsuspecting victims before asking them to transfer money to foreign bank accounts. The scammers then disappear after receiving the payments, Sri Lanka CERT said.

The agency has urged prospective students and their parents to verify the authenticity of university representatives, documents and bank account details before making payments, and to seek overseas education opportunities only through legitimate and recognised channels.

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Navi Pillay’s Lankan affairs in focus as she wins 2026 Nobel Peace Prize

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Navi Pillay

Former UN High Commissioner for Human Rights and International Court of Justice judge Navanethem “Navi” Pillay has won the 2026 Nobel Peace Prize for her contribution to international law and efforts to promote peace, the Norwegian Nobel Committee announced in Oslo on Friday.

Announcing the award, committee chairman Jørgen Watne Frydnes said Pillay had “significantly enlarged the scope and impact of international law” and helped advance “a more comprehensive global legal order” with exceptional courage. He also praised her long career, which began as a lawyer confronting deep-rooted discrimination in South Africa, and described her as a person with a “firm moral compass”.

Pillay, 85, served as the UN High Commissioner for Human Rights from 2008 to 2014. Her tenure brought her into sharp focus in Sri Lanka, particularly over her assessment of the country’s human rights situation in the aftermath of the decades-long civil war.

During an official fact-finding visit to Sri Lanka from August 25 to 31, 2013, Pillay travelled to areas including Jaffna, Kilinochchi and Trincomalee, where she met civil war survivors, families of the disappeared and local communities.

Following the visit, she warned that Sri Lanka was moving towards authoritarianism and highlighted what she described as a persistent climate of fear.

She also reported intimidation and harassment of people who had sought to meet her during the mission.

Pillay urged the UN Human Rights Council to establish an international inquiry mechanism to investigate alleged war crimes and crimes against humanity committed by both government forces and the LTTE during the final stages of the 26-year civil war.

Her observations and recommendations became a significant part of international scrutiny of Sri Lanka’s post-war human rights record.

The Norwegian Nobel Committee received 287 nominations for this year’s Peace Prize, slightly more than a quarter of them being organisations. The committee traditionally considers efforts to promote peace, international fraternity and institutions that contribute to lasting stability.

Last year, Venezuelan opposition leader Maria Corina Machado won the prize for her campaign for a democratic transition in Venezuela. She was praised as a woman who kept the flame of democracy burning amid growing darkness.

The 2026 award marks the 125th anniversary of the Nobel Peace Prize, first presented in 1901. Over its history, the prize has recognised prominent figures and organisations involved in advancing peace, human rights and international cooperation.

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