General
Sri Lanka Customs officers back to work on March 20
ECONOMYNEXT – Manila-based Asian Development Bank will support Sri Lanka’s bond markets and public private partnerships as the country recovers from an economic crisis, according to a new assistance strategy for 2024 to 2028.
The key objective of the new strategy “is fostering sustainable recovery, building resilience, and reviving growth in Sri Lanka” the ADB said in its Country Partnership Strategy.
ADB will help create and deepen the market for corporate bonds and carbon trading and will also support an environment, social, and governance fund.
The agency will help in a green bond framework and green bonds issuance.
To mitigate foreign currency risk for Sri Lankan companies, ADB will explore issuing offshore local currency-linked bonds to allow nonsovereign local currency lending.
ADB will help build capacity at the newly set up National Agency for Public Private Partnerships and help developed PPP policy and institutional, legal, and regulatory frameworks.
ADB will itself consider funding, PPPs that meet is criteria.
ADB said it will look at transaction advisory services to prepare and structure bankable PPP projects that can be can be supported by ADB’s nonsovereign operations.
