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

Display results as :
 


Rechercher Advanced Search

Latest topics
» මාස 02 කදී කොටස් වෙළෙඳපොළ සියයට 4 කින් කඩා වැටිලා
Today at 8:31 pm by serene

» ඩොලර් බිලියන 10 යි – මහ බැංකුව ඉතිහාසයේ වැඩිම විදේශ විනිමය සංචිතය ගොඩනගයි
Today at 8:29 pm by serene

» රජයේ සුරැකුම්වලින් රුපියල් බිලියන 2.7 ක විදෙස් ආයෝජන සතියක් තුළ දී ඉවතට
Today at 8:25 pm by serene

» කිම් - ට්‍රම්ප් හමුව: දෙරටේ නායකයෝ සාකච්ඡා අරඹති
Sun Jun 17, 2018 10:55 am by Ethical Trader

» DOCK.N0000 (COLOMBO DOCKYARD PLC)
Sat Jun 16, 2018 8:20 am by spw19721

» TPL.N0000 (TALAWAKALE PLANTATIONS )
Thu Jun 14, 2018 7:17 am by lanka

» සපත්තු පෙට්ටියකින් හමු වූ චීන මල් බඳුන පවුම් මිලියන 14 අලෙවි වේ
Wed Jun 13, 2018 12:03 pm by Ethical Trader

» Dividend Announcement
Wed Jun 13, 2018 11:49 am by Ethical Trader

» LLUB.N0000 (CHEVRON LUBRICANTS LANKA PLC)
Wed Jun 13, 2018 11:47 am by Ethical Trader

» ලංකාවේ ඉපිද, බ්‍රිතාන්‍යයේ නගරාධිපති පදවියකට පත් වූ කරීමා
Tue Jun 12, 2018 3:19 pm by Ethical Trader

» KGAL.N0000 (Kegalle Plantation PLC)
Tue Jun 12, 2018 2:40 pm by Ethical Trader

» Where in the world is it easiest to get rich?
Tue Jun 12, 2018 7:53 am by CK

» "එළ හරකා - මී හරකා ආර්ථික ප්‍රතිපත්ති" සහ ඩොලරයට සාපේක්ෂව පහළ වැටෙන රුපියල
Sat Jun 09, 2018 11:07 am by Ethical Trader

» Top 20 magnificient eyes from around the world
Fri Jun 08, 2018 11:10 am by Ethical Trader

» ගෝඨාභය නඩු: උපරිමාධිකරණ විනිසුරුවරුන් දෙදෙනෙක් ඉවත්වෙති
Thu Jun 07, 2018 6:16 pm by sashimaal

» මුහුදු පතුලේ තැන්පත් කළ දත්ත ගබඩාව "යථාර්ථයක් විය හැකි විකාර අදහසක්"
Thu Jun 07, 2018 6:00 pm by Ethical Trader

» KFP.N0000(Keels Food Products PLC)
Thu Jun 07, 2018 8:54 am by lanka

» Sri Lanka Port Authority profits up after China takeover of Hambantota
Wed Jun 06, 2018 5:58 pm by Ethical Trader

» Tax hike to trim profits of Sri Lankan life insurers: Fitch
Wed Jun 06, 2018 5:55 pm by Ethical Trader

» Rupee weakens, stocks gain 0.23-pct
Wed Jun 06, 2018 5:54 pm by Ethical Trader

» ශ්‍රී ලංකාවේ 'අධිකරණයට අපහාස කිරීම' ගැන දැන සිටිය යුතු නීති පසුබිම
Tue Jun 05, 2018 6:50 pm by කිත්සිරි ද සිල්වා

» Sri Lanka finance ministry accounts qualified by Auditor General
Tue Jun 05, 2018 1:28 pm by Ethical Trader

» IFC invests US$2.5mn in Sri Lanka's PickMe
Tue Jun 05, 2018 1:22 pm by Ethical Trader

» Sri Lanka state banks most in need capital for Basel III, new risk identified
Tue Jun 05, 2018 1:21 pm by Ethical Trader

» Sri Lanka's ETI Finance able to settle small depositors if liquidated
Tue Jun 05, 2018 12:53 pm by The Invisible

» Oil steady as extra U.S. supply balances strong demand
Mon Jun 04, 2018 3:59 pm by කිත්සිරි ද සිල්වා

» In the Meantime, Within Our Shores !
Mon Jun 04, 2018 3:32 pm by කිත්සිරි ද සිල්වා

» Cartoon of the day...
Mon Jun 04, 2018 11:47 am by nihal123

» SPEN.N0000
Sat Jun 02, 2018 6:19 pm by Ethical Trader

» තායිලන්තයෙන් අභ්‍යවකාශයට යන 'දූරියන්'
Fri Jun 01, 2018 5:18 pm by Ethical Trader

» නාසා අභ්‍යවකාශ යානයක් ප්ලූටෝ මත මීතේන් අයිස් වැටි සොයාගනී
Fri Jun 01, 2018 5:12 pm by Ethical Trader

» ඉන්දියාව ඉදිරියේ ශ්‍රී ලංකාව බලවත් වෙයි
Fri Jun 01, 2018 3:20 pm by sashimaal

» බන කියන පුංචි දරැවා
Fri Jun 01, 2018 11:21 am by Ethical Trader

» දරුවෙක් බේරාගත් මාලි ජාතික 'ස්පයිඩර් මෑන්'ට ප්‍රංශ පුරවැසිභාවය
Thu May 31, 2018 5:00 pm by Yin-Yang

» Exclusive: Cricket match-fixers caught in the act in Sri Lanka
Mon May 28, 2018 7:41 pm by sashimaal

» RIL.N0000 ( RIL Property )
Mon May 28, 2018 10:04 am by eco

» BFL.N0000 (Bairaha Farms PLC)
Sun May 27, 2018 10:39 pm by seek

» MTD Walkers (KAPI)
Sun May 27, 2018 10:34 pm by seek

» Sri Lanka's ex-Sports minister admits sleaze
Sat May 26, 2018 10:49 pm by Ethical Trader

» HNB regrets unauthorized incident at branch and says action taken
Sat May 26, 2018 10:15 pm by Ethical Trader

» Listed Sri Lanka hospitals have strong growth prospects: Fitch
Sat May 26, 2018 10:04 pm by Ethical Trader

» ශ්‍රී ලාoකීය බෞද්ධයාගේ සම්මා දිට්ඨිය
Sat May 26, 2018 10:03 pm by Ethical Trader

» Food for Thought
Sat May 26, 2018 11:24 am by Ethical Trader

» Theory of Everything
Fri May 25, 2018 3:33 pm by Ethical Trader

» ඊ.ටි.අයි ෆිනෑන්ස් විකිණිමට මහ බැංකුවේ අවසරය
Tue May 22, 2018 9:43 pm by Ethical Trader

» Elsewhere vs SL : Honesty, Social responsibility , Word twisting and Decency
Tue May 22, 2018 8:53 pm by Yin-Yang

» Whats ailing Sri Lanka ? Why we are what we are!
Tue May 22, 2018 6:02 pm by Yin-Yang

» Karl Marx and the Social Sciences
Sun May 20, 2018 11:25 pm by Backstage

» Your Face Is Now in a Database
Sun May 20, 2018 10:47 am by කිත්සිරි ද සිල්වා

» ජපානය: තත්පර විසිපහකට පෙර දුම්රිය පිටත් වූවාට 'සමාවෙන්න'
Fri May 18, 2018 10:10 pm by Ethical Trader

June 2018
SunMonTueWedThuFriSat
     12
3456789
10111213141516
17181920212223
24252627282930

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

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 : 5638
Join date : 2014-02-28

Back to top Go down

Back to top


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