Sri Lanka, Oct. 13 -- The Cabinet has approved a proposal to obtain US$ 100 million in policy-based financing from the Asian Development Bank (ADB) to implement the second sub-programme of Sri Lanka's Water Supply and Sanitation Reform Programme.

The funding will be part of a US$ 620 million policy-based loan facility approved by the ADB Board of Directors to support Sri Lanka's reform agenda in line with the International Monetary Fund's Extended Fund Facility programme.

The US$ 100 million allocation will comprise US$ 50 million from the ADB's regular general capital resources and another US$ 50 million from its concessional general capital resources.

The programme aims to help the Government address weaknesses in water resource man...