ADB Pledges $4 Billion Aid Package, Sri Lanka Among 15 Nations Seeking Support

The Asian Development Bank (ADB) is deploying a US$4 billion financial assistance package to 15 countries, including Sri Lanka, to help them navigate economic pressures exacerbated by global conflicts. Sri Lanka has formally requested a portion of this aid, which is designed to support nations facing challenges with finances, remittances, trade, and essential imports. The package comprises approximately US$3 billion for government-level support and US$1 billion dedicated to trade finance, specifically for energy and food imports. ADB President Masato Kanda has engaged in discussions regarding Sri Lanka's "crucial" request, with funds earmarked for priority sectors such as energy and food security.