The Asian Development Bank (ADB) has emarked approximately $2.8 billion wort hof loans over the next two years in a bid to assist Sri Lanka in meeting its key development goals, reports Sri Lanka.
The ADB said that it looked to contribute to job creation, rural economic development, knowledge formulation and economic diversification over the next 5 years of its Country Partnership Strategy (CPS).
Priority investments for economic diversification will focus on building infrastructure and developing an economic corridor, reports Colombo Page.
To date the ADB has provided Sri Lanka with assistance totalling $9.1 billion.
The ADB has been a long time backer of the construction of a land bridge between Tamil Nadu and the North of Sri Lanka.