ADB provides US$ 212.8 mln for North-East development

The Asian Development Bank has provided US$212.8 million for the implementation of three development projects in Sri Lanka. The Fiscal Management Efficiency Project is to be implemented at cost of US$ 60 million of which the government provides US$10 million, official sources said.

The main aim of the project is to enhance the government’s fiscal space and efficiency in the public resource management system. Another project with ADB funds of US$150 million is for the Conflict Affected Region Emergency Project while the third project is US$12.8 million as Supplementary Financial Assistance.