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Sri Lanka in talks with ADB for facility after attacks

ECONOMYNEXT – Sri Lanka is in talks with the Asian Development Bank (ADB) and other international agencies for financial facilities that are available to mitigate the impact of the terror strike on Easter Sunday, State Minister for Finance Eran Wickramaratne said.

"There are ADB negotiations at the the highest level," Wickramaratne told reporters.

"We are also having discussions with other agencies."

The Easter Sunday attacks on three hotels and three churches had hit the tourism sector the hardest.

The government had announced debt moratorium for tourist industry firms from banks until March 2020 and also subsidized credit for working capital.

Any assistance from lending agencies would be in addition to relief measures already announced, Wickramaratne said.

Sri Lanka had got assistance including debt moratoria in the past from multilateral lenders including the International Monetary Fund. (Colombo/Apr07/2019-SB)
 

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