NewsThe Asian Development Bank (ADB) on Thursday asserted that the government needs to improve its economic position by engaging in structural reforms to overcome the current “very low” rate of growth and Foreign Direct Investment (FDI). In comparison to its neighbouring states, Sri Lanka needs to improve much with public sector investments and reliance on private sector investments as well. The ADB will be coming up with their future projections for Sri Lanka by September and he pointed out that the country has a “very low growth rate”. ADB is involved in projects in sectors like transport, ports, railways, energy, urban infrastructure, rural development and social development. As a result Sri Lanka would be eligible for regular ordinary capital resources lending only.

Source: Sunday Times August 30, 2018 16:41 UTC