News

Lanka and ADB sign USD 200 mln loan agreement to help stabilise finance

Published

3 years ago

2023/12/12

K. M. Mahinda Siriwardana, Secretary, Ministry of Finance, Economic Stabilization and National Policies, and Takafumi Kadono, Country Director, ADB Sri Lanka Residence Mission sign the agreement.

Two policy-based loans (PBLs) have been arranged following discussions between the Asian Development Bank (ADB) and the Sri Lankan government, the Ministry of Finance said.

Accordingly, the PBLs are slated to be used for the implementation of the Financial Sector Stability and Reform Programme, in a bid to create a stable financial system that provides access to finance for businesses in various sectors of the economy.

The program adopts a programmatic modality with two subprograms of USD 200 million each, and will support the implementation of multi-year policy reforms, including immediate reforms to enhance the crisis management regulatory framework and stabilise the financial sector under Subprogram 01 and reforms to build a resilient and inclusive financial system under Subprogram 02.

The Ministry of Finance, Economic Stabilization and National Policies (MOF) have been deemed the executing agency of the above programs and will therefore implement the policy actions in collaboration with the Central Bank of Sri Lanka (CBSL) and other relevant institutions.

Since the relevant agencies have successfully achieved all pre-policy actions related to Subprogram 01, the entire USD 200 million loan proceeds relevant to the subprogramme will soon be disbursed to the Treasury, the Ministry stated, adding that the loan will be provided from ADB’s concessionary Ordinary Capital Resources with a 25-year term, including a 5-year grace period, and an interest rate of 2.0% per year.

Accordingly, the PBL agreement for Subprogram 01 was signed between the Government of Sri Lanka and the ADB at the Ministry of Finance, with K. M. Mahinda Siriwardana, Secretary, Ministry of Finance, Economic Stabilisation and National Policies, having placed the signature on behalf of the former, while Takafumi Kadono, Country Director, ADB Sri Lanka Residence Mission, placed the signature on behalf of latter.

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Animal Welfare Draft Bill to be Gazetted

Published

15 hours ago

2026/06/24

Priyan

A specialists committee has been appointed by the Secretary to the Ministry of Agriculture, Livestock, Lands and Irrigation adhering to the decision of the Cabinet of Ministers dated 29.12.2025 for submitting appropriate recommendations analyzing the provisions of the draft bill formulation in regard to Animal Welfare.

Based on the recommendations of the said Committee, the Legal Draftsman has been instructed at the meeting of the Cabinet of Ministers held on 18.05.2026 to prepare the final bill on the animal welfare.

Wherefore, the Legal Draftsman has formulated the draft bill and the clearance of the Attorney General has been received in the connection.

Accordingly, the Cabinet of Ministers granted approval to the resolution furnished by the Minister of Agriculture, Livestock, Lands and Irrigation to publish the said draft bill in the
Government Gazette Notification and subsequently forward the same to the Parliament for its concurrence.

News

Legal provisions on marking voters using indelible ink during elections removed

Published

15 hours ago

2026/06/24

Priyan

Under the legal provisions for elections in this country since 2004, it is mandatory for voters who come to mark their votes to verify their identity through a valid identity card, and it is also mandatory for all such voters to be marked with an appropriate mark using indelible ink. The dual purpose of these two functions is to prevent a voter from voting more than once in a single election.

It has been observed that having to follow two different
methods at the same time to achieve the same objective hinders the efficiency of the duties performed at the polling stations and also incurs additional costs to the government.

Therefore, it has been deemed appropriate to remove the legal provisions regarding the use of indelible ink and marking the voter with the appropriate mark from all election acts.

Accordingly, the development activities of the province, as well as national security, will benefit. Therefore, the Cabinet of Ministers has approved the resolution furnished by the
President to take necessary steps to remove the legal provisions

• Section 36 of the presidential Election Act, No 15 of 1981
• Section 38 of the Parliamentary Election Act, No 01 of 1981
• Section 36 of the Provincial Council Election Act, No 02 of 1988
• Section 53 A of the Local Government Elections Ordinance (262 Authority)
• Section 21 of the Referendum Act No 7 of 1981

News

Showers will occur in the Western, Sabaragamuwa and North-western provinces and in Galle, Matara, Kandy and Nuwara-Eliya districts

Published

16 hours ago

2026/06/24

Priyan

WEATHER FORECAST FOR 24 JUNE 2026
Issued at 05.30 a.m. on 24 June 2026 by the Department of Meteorology

Several spells of showers will occur in the Western, Sabaragamuwa and North-western provinces and in Galle, Matara, Kandy and Nuwara-Eliya districts. Showers or thundershowers may occur at a few places in the Uva province and in Ampara and Batticaloa districts after 2.00 p.m.

Fairly strong winds about (30-40) kmph can be expectedat times over the Western slopes of the central hills, the Northern, North-central, North-western and Southern provinces and in Trincomalee district.

The general public is kindly requested to take adequate precautions to minimize damage caused by temporary localized strong winds and lightning during thundershowers.