ADB Approves $100 Million Program to Strengthen Social Protection and Expand Economic Opportunities in Sri Lanka
Sri Lanka, Oct. 21 -- The Asian Development Bank (ADB) has approved $100 million in financing to support reforms and investments that will strengthen social protection, economic inclusion, and well-being and resilience among the poor and elderly in Sri Lanka. The financing comprises a $50 million policy-based loan and a $50 million project loan.The Promoting Resilience and Opportunity for Inclusive Recovery Sector Development Program will help the Government of Sri Lanka expand livelihood and employment opportunities for low-income households, improve eldercare services, and boost the effectiveness and responsiveness of the country's social protection system. Despite Sri Lanka's continued economic recovery, poverty and vulnerability to shoc...
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