The Investor Sentiment - Equity and investments forum for Sri Lankans
Search
 
 

Display results as :
 


Rechercher Advanced Search

Latest topics
» East West ගනුදෙනුවෙන් කොටස් පිරිවැටුම බිලියනය පනී
Today at 7:04 am by malanp

» Dividend Announcement
Today at 2:21 am by Rana

» How to identify a stock market bottom
Yesterday at 5:15 pm by Ethical Trader

» ලොව බලවත්ම ගැහැනිය වූ සායම් බාස්‌ගේ දුව
Yesterday at 4:03 pm by Ethical Trader

» පිටිදූවේ සිරිධම්ම හිමි ඇත්ත කතා කරයි.
Yesterday at 12:53 pm by sashimaal

» CIC රුපියල් මිලියන 238 කට කෘෂි රසායනික සමාගමක් මිල දී ගනී
Mon Oct 16, 2017 6:49 pm by nihal123

» ධම්මික පෙරමුණට එයි
Mon Oct 16, 2017 3:23 pm by Ethical Trader

» Govt. mulls removing barriers to allow Lankan firms hire foreign labour
Sun Oct 15, 2017 10:30 am by කිත්සිරි ද සිල්වා

» එන්ට්‍රස්ට් මුදල් ගිලපු හැටි ගිණුම් වාර්තා හෙළි කරයි
Sat Oct 14, 2017 5:50 pm by nihal123

» Laughter the Best Medicine
Sat Oct 14, 2017 4:43 pm by Ethical Trader

» Panama Papers: Huge leak reveals elite's tax havens/ධනවතුන්, බලවතුන් ධනය හැංගූ හැටි හෙළිවෙයි .ලංකාවත් පැනමා පේපර්ස් ලැයිස්තුවේ
Fri Oct 13, 2017 4:49 pm by yellow knife

» කොටස් මිල ඉහළ යාම ගැන CSE විමසයි. HVA කරුණු පහදයි
Fri Oct 13, 2017 11:30 am by Ethical Trader

» තායිවාන් ගිණුම් හැක්‌ කර කෝටි 35කට විදලා! - හිටපු හමුදා පුත්‍රයා රිමාන්ඩ්
Wed Oct 11, 2017 10:32 pm by nihal123

» LIOC.N0000 (Lanka IOC PLC)
Tue Oct 10, 2017 9:56 pm by First Guy

» The Myth of Average !
Mon Oct 09, 2017 1:13 pm by Expert

» SPEN.N0000
Mon Oct 09, 2017 12:36 pm by nihal123

» Plantation sector updates
Sat Oct 07, 2017 6:41 pm by Senarath67

» Plantation Sector - Yesterday, Today and Tomorrow
Sat Oct 07, 2017 12:19 pm by CK

» කොටස්-වෙළෙඳ-පොළට-සූදු-කෙළින්නන්-ඇවිත්?
Wed Oct 04, 2017 6:49 pm by CK

» GSP+ ලැබීමෙන් පසු ඇඟලුම් අපනයන ආදායම ඉහළ ගියේ මෙහෙමයි
Tue Oct 03, 2017 3:17 pm by Rana

» TJL.N0000 (Textured Jersey Lanka PLC.)
Tue Oct 03, 2017 1:41 pm by CK

» ගෝලීය තරඟකාරීත්ව දර්ශකයේ 85 වැනි ස්ථානය දක්වා ශ්‍රී ලංකාව පහළට
Mon Oct 02, 2017 3:37 pm by Ethical Trader

» කාගිල්ස්, මිලියන 4,200 කට ඩෝසන් කාර්යාල සංකීර්ණය විකුණයි
Mon Oct 02, 2017 11:19 am by nihal123

» SAMP.N0000 (SAMPATH BANK PLC)
Mon Oct 02, 2017 10:40 am by Ethical Trader

» In the Meantime, Within Our Shores !
Sat Sep 30, 2017 9:04 pm by කිත්සිරි ද සිල්වා

» සනත් අයියා ගහන ගැහිලි !
Fri Sep 29, 2017 6:55 pm by Ethical Trader

» 'මොනා ලීසා' නිරුවත් උඩු කයින්
Fri Sep 29, 2017 6:42 pm by Ethical Trader

» CB Governor offers key insights
Fri Sep 29, 2017 10:57 am by කිත්සිරි ද සිල්වා

» The Govt. Doesn’t wish to pay off debts at once’
Thu Sep 28, 2017 10:08 pm by Backstage

» රවීගේ ‘මහ බැංකු හොරු‘ කතාවට අධිපති ප්‍රතිචාර දක්වයි
Thu Sep 28, 2017 5:17 pm by Ethical Trader

» Sri Lanka Hambantota Port JV to be operational from November
Thu Sep 28, 2017 5:14 pm by Ethical Trader

» Obituary Notice.
Thu Sep 28, 2017 3:05 pm by කිත්සිරි ද සිල්වා

» නේෂන් ලංකා තැරැව්කරුට සියලු ගනුදෙනු තහනම්
Wed Sep 27, 2017 8:04 pm by nihal123

» තායිලන්තයේ හිටපු අගමැතිනියට සිර දඬුවම්
Wed Sep 27, 2017 6:02 pm by Ethical Trader

» විද්‍යා ඝාතනය: වරදකරුවන් හත් දෙනෙකුට මරණ දඬුවම
Wed Sep 27, 2017 5:59 pm by Ethical Trader

» Flying is the Safest mode of Transport
Wed Sep 27, 2017 5:33 pm by කිත්සිරි ද සිල්වා

» Oil,gold, silver Prices
Wed Sep 27, 2017 2:08 pm by කිත්සිරි ද සිල්වා

» JKH.N0000
Wed Sep 27, 2017 11:37 am by LSE

» Piece Price
Tue Sep 26, 2017 7:15 pm by pee ratio

» ලිට්රෝ ගෑස් මිල ඉහළට
Mon Sep 25, 2017 11:00 pm by nihal123

» යුනිටි ප්ලාසා හිමිකමෙන් 23% ක් රේණුකා යටතට
Mon Sep 25, 2017 7:39 pm by nihal123

» Plastic-degrading fungus found in Pakistan rubbish dump
Sun Sep 24, 2017 8:54 pm by කිත්සිරි ද සිල්වා

» CSE HOLIDAY LIST 2018
Fri Sep 22, 2017 5:20 pm by Rana

» ට්‍රම්ප් "මොළය අවුල් වූ මැරයෙක්" - කිම් ජොන්ග් අන්
Fri Sep 22, 2017 2:37 pm by Ethical Trader

» No one must die of cancer
Thu Sep 21, 2017 11:14 pm by කිත්සිරි ද සිල්වා

» ට්‍රම්ප්ගේ දේශනය "සුනඛයෙකුගේ බිරීමක්"
Thu Sep 21, 2017 6:05 pm by Ethical Trader

» ලංකා බැංකුව, මහජන බැංකුව සහ ශ්‍රී ලංකා ඉන්ෂුවරන්ස් කොටස් වෙළෙඳපොළට
Thu Sep 21, 2017 6:01 pm by Ethical Trader

» ලංකා සිමෙන්ති කොටස් ගනුදෙනුවල අසාමාන්‍ය හැසිරීමක් – සභාපති කරුණු පහදයි
Wed Sep 20, 2017 8:06 pm by nihal123

» උතුරු කොරියාව විනාශ කරනවා - ජනාධිපති ඩොනල්ඩ් ට්‍රම්ප්
Wed Sep 20, 2017 12:33 pm by Ethical Trader

» Nanodegrees
Tue Sep 19, 2017 11:40 pm by Backstage

October 2017
SunMonTueWedThuFriSat
1234567
891011121314
15161718192021
22232425262728
293031    

Calendar Calendar

Disclaimer


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

ADB eyes $ 5 b support for SL

View previous topic View next topic Go down

ADB eyes $ 5 b support for SL

Post by sashimaal on Fri Aug 25, 2017 9:26 am

New country partnership strategy for 2018-2022 to focus on strengthening drivers of growth by promoting diversification of economic activities and productivity enhancement


By Charumini de Silva

The Asian Development Bank (ADB) has earmarked up to $ 5 billion to work on a new country partnership strategy (CPS) for 2018-2022, with the Government to address policy reforms and growth-oriented infrastructure as well as strengthen drivers of growth through sustainable, inclusive and environmentally friendly solutions to help Sri Lanka’s transition to upper middle income country status.

Under the new five-year CPS, ADB is committing around $ 800 million-$ 1 billion per year, while technical assistance is expected to amount to about $ 8 million a year. In addition, ADB will also increase its private sector operations by expanding into non-finance sectors.

“Our CPS for 2018-2022 will focus on two strategic objectives, which are to strengthen the drivers of growth by promoting diversification of economic activities and productivity enhancement as well as to improve the quality of growth, promoting inclusiveness,” ADB Country Director Sri Widowati told journalists in Colombo yesterday.

She pointed out that in its new CPS ADB aims to respond flexibly to the evolving demands of the Government. “ADB will therefore continue to invest in programs and projects in sectors where it has strong operational experience, while exploring new areas that will put the country further toward reaching upper middle income country status.

In the process, ADB operations will also promote inclusiveness, strengthening the environment, climate change and disaster risk management and promote gender equality,” Widowati added.

Elaborating on the ADB’s future direction, ADB Senior Country Economist Tadateru Hayashi outlined policy reforms, higher education and the health sector as some of the new focus areas the organisation will address under the CPS designed for 2018-2022.

To help create a better environment for private sector development, ADB will work on strengthening the legal system, developing capital markets, establishing a credit guarantee institution for small and medium-sized enterprises (SMEs) and facilitating public-private partnerships (PPPs).

“In terms of policy purposes, we are undertaking a study for developing a comprehensive plan for the Colombo-Trincomalee Economic Corridor to develop urban areas with industrial zones, commercial and residential areas. We identify what sectors have the potential for future development and based on the study, it will act as a guide where advanced infrastructure is needed,” he said.

There will also be a focus on strengthening State-owned enterprises (SOEs) and management, especially with the Ceylon Electricity Board, National Water Supply and Drainage Board, Road Development Authority, Sri Lanka Railways and Sri Lanka Ports Authority.

Further, it was noted that for Sri Lanka to move toward upper middle income status, better human capital resources were vital. “ADB will also support human capital development through secondary education, technical training and higher education, building linkages with emerging jobs.”

To promote greater inclusiveness, ADB will complement the Government’s plan of modernising agriculture and diversifying production into high-value crops to increase the productivity of workers.

Meanwhile, the ADB’s private sector operations will explore business opportunities in the entire agriculture and food value chain.

In addition, ADB will provide relevant knowledge products, promoting best practices, laying the foundation for innovations and increasing the absorptive capacity for new technologies. It will require ADB to be engaged with the Government, development partners and think tanks on a continuous basis.

While commending the performance of Sri Lanka in categories such as starting a business, getting electricity, trading across borders, dealing with construction, protecting minority investors, paying taxes, registering property, Hayashi said the country now needs to focus on resolving insolvency, getting credit and enforcing a contract.

“For insolvency we have just started this year, a technical assistance for the Justice Ministry on a sector reform program. We are focusing on areas of commercial law,” he added.

Robust economic growth has brought Sri Lanka close to upper middle income status. This growth, along with extensive coverage of Government-financed education and healthcare, has led to poverty more than halving from 15.2% in 2006-2007 to 6.7% in 2012-2013. The country also made good progress in human development and has been successful in developing basic infrastructure. However, he said that Sri Lanka faces macroeconomic management challenges for which the International Monetary Fund (IMF) has created a program.

Further, the manufacturing and export bases of the economy need to be diversified and the declining trend of exports to gross domestic product (GDP) reversed since the limited size of the domestic market will constrain growth. “It is therefore necessary to catalyse domestic private investment and attract higher foreign direct investment. Further challenges include reducing remaining poverty, narrowing inequalities, achieving more balanced geographical development and maintaining environmental sustainability.”

To address these, ADB plans to strengthen infrastructure, especially in the transport, energy and urban sectors. In the transport sector, ADB will improve connectivity by providing support for roads, ports and railways. In urban areas, ADB will continue to support water supply and sewerage systems. In the energy sector, ADB’s work will focus on expanding nontraditional renewable energy using wind and solar energy.

Last year ADB approved a total of $ 757.9 million as loans and technical assistance, out of which $ 699 was through public loans, $ 50 million was through private sector loans and $ 8.9 million was provided as technical assistance.

Based in Manila, ADB is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth and regional integration. Established in 1966, ADB is celebrating 50 years of development partnership in the region. It is owned by 67 members—48 from the region. In 2016, ADB assistance totalled $ 31.7 billion, including $ 14 billion in co-financing.


http://www.ft.lk/article/637789/ADB-eyes---5-b-support-for-SL
avatar
sashimaal
Top contributor
Top contributor

Posts : 5525
Join date : 2014-02-28

Back to top Go down

View previous topic View next topic Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum