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| Saturday, 29 May 2004 |
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$220m ADB aid for Lanka by Shirajiv Sirimane The Asian Development Bank (ADB) pledged US $ 220 million assistance for Sri Lanka's development this year. ADB Vice President Liqun Jin said they were pleased in the manner in which the government was committed to peace and reaching for a negotiated settlement. He said the economic balance in Sri Lanka was improving and this was one reason for the ADB to pledge assistance to Sri Lanka. Jin said the ADB will continue providing assistance for post conflict rehabilitation. "Regional balance and development can support the peace process. Permanent peace will be a key factor in economic stability and poverty reduction," he said. The ADB assistance for this year would include US $ 40 million for education, US $ 15 million for road development and US $ 15 million for the North-East development. A further US $ 65 million had been allocated towards the development of the private sector. He said the economy should be dominated by the State and private sector should play a leading role. Assisting the North-East, providing water to Hambantota, building express ways, education and energy sector development are some of the key areas that the ADB would focus this year. Jin also met the Prime Minister, the Minister of Finance and other ministers. He assured the Prime Minister of ADB's firm commitment to support the peace process and providing assistance for post conflict rehabilitation. ADB sees lasting peace as a key factor in the country's development process. He congratulated the Government and the LTTE for maintaining the ceasefire, sometimes under very trying conditions. "We hope that the commitment to peace never wanes and war is now a thing in the past. I would like to offer my best wishes to all parties involved in peace making and hope their efforts will bear fruit in the future," he said. The vice-president visited ADB funded projects in the North and the South. In Jaffna, he laid the foundation stone for a school, opened a new school and a ward for the conflict-damaged Chavakachcheri hospital. In the South, he visited the Southern Expressway. In cooperation with the Government and development partners, the ADB is working on updating its country strategy for Sri Lanka that will guide its operations here over the next three to four years. |
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