The Cabinet of Ministers has granted approval to the proposal to obtain another US$ 100 million from the Asian Development Bank under the Policy Based Loan Facilities.
In March this year, the Cabinet of Ministers granted approval to obtain US$ 380 million from the policy - based loan facilities of the Asian Development Bank in the year 2026, increasing the Loan Grant Provided by the ADB under Policy Based Loan Facilities.
In the grant, a sum of US$ 100 million was allocated for Trade, Investment and Industries Development Programme. However, amidst the economic uncertainty due to the ongoing Middle East crisis and the climatic crises, the Asian Development Bank agreed to assist by increasing a supplementary financing package of US$ 100 million.
Accordingly, the Cabinet approved the resolution furnished by THE President in his capacity as the Minister of Finance, Planning and Economic Development to take further measures to obtain the loan grant.
