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Govt. signs agreement with ADB on USD 300 loan

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The government yesterday(17) entered into loan agreements with the Asian Development Bank (ADB) to obtain US$ 300 mn.

Loan Agreements were signed at the Treasury in Colombo by Dr. Harshana Suriyapperuma, the Secretary to the Ministry of Finance, Planning and Economic Development and Takafumi Kadono, the Country Director of the ADB Sri Lanka Residence Mission, on behalf of the Asian Development Bank.

The text of the statement: “The government held discussions with the ADB to mobilize US$ 300 million under the financial sector stability and reforms programme, strengthening macroeconomic resilience and transparency program and sustainable tourism sector development programme.

The Financial Sector Stability and Reforms Program was designed to complete the multiyear structural reforms, and to strengthen the regulatory capacity of Central Bank of Sri Lanka (CBSL), the Ministry of Finance said in a statement.

Under the programme, Sri Lanka will receive USD 100 million from ADB’s Concessional Ordinary Capital Resources following the completion of 11 policy actions aimed at strengthening the stability and governance of the banking sector, strengthening the asset quality of the banking sector and deepening sustainable and inclusive finance.

Under the Strengthening Macroeconomic Resilience and Transparency Programme, Sri Lanka will receive USD 100 million from ADB’s Concessional Ordinary Capital Resources following the completion of 11 policy actions aimed at improving public expenditure management, improving domestic resource mobilization and strengthening the enabling environment private sector participation.

The Finance Ministry noted that the Sustainable Tourism Sector Development Programme (Subprogram 1) comprises a Policy Based Loan (PBL) and an investment loan component. Under the PBL component, the country will receive US$ 70 million from the ADB’s concessional Ordinary Capital resources. It is intended to strengthen the sector by implementing structural reforms, capacity-building initiatives, and policy revisions aimed at promoting greater private sector participation and enhancing overall institutional effectiveness through the PBL component.

Sri Lanka will also receive US$ 30 million under the investment component from ADB’s Ordinary Capital Resources to develop and expand the tourism potential and carrying capacity of the Trincomalee and Dambulla (including Sigiriya area) destinations. Additionally, the component will focus on the activities to manage tourist congestion, extend the average length of stay, and increase the tourism sector’s contribution to the regional economy.”



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Advisory for strong winds and rough seas for Multi-day boats in the Bay of Bengal

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Navel and fishing communities engaging the activities over this sea area are advised to be vigilant

Advisory for strong winds and rough seas  for Multi-day boats in the Bay of Bengal deep sea areas
Issued by the Natural Hazards Early Warning Centre
Issued at 05.00 p.m. 18 September 2026, valid for the next 24 hours.

PLEASE BE AWARE!
The atmospheric disturbance to the North of the Andaman Islands in the Bay of Bengal, is likely to develop into a low pressure area within the next 24 hours.

Due to its influence, wind speed over the Bay of Bengal sea areas will increase during the next few days starting from
tomorrow (19th).

The wind speed in the sea areas marked under the “Advisory” category on the map below will increase to 55-65 kmph at times and those sea areas will be rough or very rough at times.

Navel and fishing communities engaging the activities over this sea area are advised to be vigilant and be attentive to the future forecasts and bulletins issued by the department of Meteorology in this regards.

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Some NPP manifesto promises may be difficult to fulfil – CIABOC DG

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Ranga Dissanayake (Director General CIABOC) at the BMICH on Wednesday

Text and Pic by Priyan de Silva

Director General of the Commission to Investigate Allegations of Bribery and Corruption (CIABOC) Ranga Dissanayake has questioned whether some promises contained in the National People’s Power (NPP) manifesto, A Thriving Nation – A Beautiful Life, could be fulfilled even if the government wanted to implement them.

Dissanayake raised the issue during a discussion following the release of the third biannual report on manifesto monitoring by the March 12 Movement, at the BMICH, on Wednesday.

He questioned whether the report had taken into account legal and institutional constraints affecting the implementation of certain pledges.

Citing the proposal to establish Anti-Corruption Investigation Offices in each district, Dissanayake said such offices could be established only with the agreement of CIABOC and that amendments to the Anti-Corruption Act would be necessary.

He also referred to the pledge to abolish the Executive Presidency, noting that successive governments had made similar commitments since 1994. He questioned whether there had been adequate consideration of where the powers vested in the Executive President would be transferred if the system were abolished.

On the proposal to establish a Public Prosecutor, Dissanayake questioned whether the Government intended to maintain the office alongside the Attorney General, who currently performs prosecution-related functions.

Executive Director of the Institute for Democratic Reforms and Electoral Studies (IRES) Manjula Gajanayake said Dissanayake’s remarks should be regarded as his personal views and not as Government policy.

Monitoring and Evaluation Consultants M. Thilakarajah and D.D. Mataharaarachchi presented the third-phase findings, covering January to June 2026.

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Yoshitha and ex-Navy chief Karannagoda’s case fixed for PTC

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The corruption case filed by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) against former Navy Commander, Admiral of the Fleet Wasantha Karannagoda, and Yoshitha Rajapaksa was set for a pre-trial conference by the Colombo High Court.

The case was taken up before the Colombo High Court on Thursday (17), when the accused, who are currently out on bail, appeared before the court. After considering the submissions made, the court ordered that the case be called for a pre-trial conference.

The CIABOC had filed the case against the accused, alleging that a corruption offence was committed by sending Yoshitha Rajapaksa, son of former President Mahinda Rajapaksa, for training at the Royal Naval College in the United Kingdom despite him not having the required qualifications.

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