INSUBCONTINENT EXCLUSIVE:
The Cabinet of Ministers has granted approval for the procurement of a policy-based loan of US$ 400 million from the Asian Development Bank
sub-programme has received US$ 200 million of the total loan amount by December 2023.For the second sub-programme, 12 pre-policy activities
must be completed to secure the remaining US$ 200 million while most of these activities are either completed or nearing
completion.Accordingly, the Cabinet has granted approval to the proposal put forward by President Ranil Wickremesinghe, in his capacity as
Minister of Finance, Economic Stabilization, and National Policy, to obtain the US$ 200 million loan from ADB under the second sub-programme
