Sri Lanka’s Sirisena inks 3 loan agreements with ADB while on state visit to PHL

Sri Lanka’s President Maithripala Sirisena signed three loan agreements with Asian Development Bank (ADB) president Takehiko Nakao on Thursday in the course of his 5-day state visit to the Philippines.

A total of $455 million worth of loan agreements focusing on the improvement of higher education, transport infrastructure, and technical assistance for urban projects in Sri Lanka were signed as Sirisena visited the development bank’s headquarters in Mandaluyong City.

“Sri Lanka highly values the assistance provided by ADB to various development plans of our country,” Sirisena said.

“The economic cooperation extended by ADB is of extreme benefit to the countries grappling with development issues,” he added.

The three loan agreements were part of the $815 million total commitment of ADB to Sri Lanka for the year.

Prior to his visit to ADB, Sirisena met with President Rodrigo Duterte in Malacañang and signed various deals which cover the areas of military, tourism, and agriculture. — Dona Magsino/BM, GMA News

 

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