Asian Development Bank Director General for South Asia Department Kenichi Yokoyama has assured President Gotabaya Rajapaksa that the ADB will support the promotion of Small and Medium Scale Enterprises.
The ADB provided a $750 million concessional loan last year for projects in Sri Lanka.
Yokoyama said the ADB will take steps to increase that amount to $1 billion next year.
The Director General yesterday called on President Rajapaksa at the Presidential Secretariat.
Yokoyama noted the success of the COVID-19 vaccination drive demonstrates Sri Lanka’s ability to overcome challenges.
The President meanwhile said the public service and the health and security sectors worked together to make the vaccination programme and the COVID-eradication process a success.
The President also requested Yokoyama’s intervention to provide technical assistance for the production of organic fertilizer and nitrogen extraction.
The President highlighted the need to increase forest cover through economically viable cultivations and sought the assistance of the ADB.