MANILA, Nov. 7 (Xinhua) -- The Asian Development Bank (ADB) said on Friday that it has approved a 100-million-U.S.-dollar loan to address complex and challenging structural reforms in Sri Lanka's financial sector.
The loan builds on the structural reforms addressed in the previous two ADB lending programs totaling 400 million dollars since 2022, the Manila-based bank said in a press release.
The loan will support the culmination of previous reform efforts, focusing on completing and sustaining measures to enhance the financial sector's resilience and ensure continued service delivery, the ADB said.
"This initiative builds on earlier banking sector reforms and aims to broaden access to finance for micro, small, and medium-sized enterprises, with a strong focus on empowering women-led enterprises," said ADB Country Director for Sri Lanka Takafumi Kadono. ■