Asian Development Bank approves $100 million for Sri Lanka

The Asian Development Bank (ADB) has authorized a $100 million financing package to bolster social protection, economic inclusion, and resilience for vulnerable populations in Sri Lanka. The funding is split equally between a $50 million policy-based loan and a $50 million project loan under the Promoting Resilience and Opportunity for Inclusive Recovery Sector Development Program.

The initiative aims to support the Sri Lankan government in expanding employment opportunities for low-income households and enhancing eldercare services. A key component involves the National Empowerment Program, which will provide 30,000 households identified via the Aswesuma social registry across six districts with livelihood grants, skills training, and business assistance, specifically targeting women and youth.

To address aging demographics, the program will establish five model elderly daycare centers in impoverished districts to serve as templates for national scaling. Additionally, the ADB will support the modernization of social protection delivery by upgrading digital platforms, data governance, and monitoring systems to improve responsiveness during climate-related emergencies and other crises.