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ADB provides SL access to concessional financing

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The Asian Development Bank (ADB) on Wednesday said it has approved Sri Lanka’s eligibility to access concessional financing.

The availability of concessional assistance, offered at low interest rates, broadens Sri Lanka’s options to bridge its urgent development financing needs to restore economic stability and deliver essential services, particularly to the poor and vulnerable, the Philippines‎-based regional development bank said in a press release.

Eligibility for concessional resources among the ADB’s developing member countries is based on gross national income per capita and creditworthiness.

ADB explained that its decision was considered based on a request from the Sri Lanka government in view of the severe and unprecedented economic crisis that has reversed hard-won development gains.

“ADB is committed to further enhancing its support for the people of Sri Lanka as the country responds to this deep crisis that has severely undermined their livelihoods and well-being,” said ADB Director General for South Asia, Kenichi Yokoyama. “The availability of concessional assistance will help Sri Lanka to lay the foundation for economic recovery and sustained, inclusive growth.”

Thus, Sri Lanka is now eligible for ADB support including concessional and market-based financing, technical assistance, policy advice, and knowledge solutions that together comprise a comprehensive suite of options to address the crisis.

The ADB notes that access to concessional financing will also ease debt servicing pressures through more favourable lending terms.

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Names of Mayors and Chairpersons of several LG bodies gazetted

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A gazette extraordinary has been issued containing the names of Mayors, Deputy Mayors, Chairpersons, and Vice-Chairpersons of several local government institutions.

The names have been gazetted based on recommendations sent to the National Election by political parties and independents groups that secured a majority in local government bodies at the recently concluded Local Government (LG) election.    

Accordingly, the Election Commission has taken steps to publish the names from among the political parties and independent groups that secured a majority at the Local Government election held recently.

The names of the elected and nominated members for the respective local authorities, following the Local Government election were also published in the government gazette based on the respective administrative districts.

As per the gazette notification issued by the Minister of Public Administration, Provincial Councils, and Local Government on February 17, 2025, the term of office of local government bodies is scheduled to commence on June 2, 2025

පළාත් පාලන ආයතනවල සභාපතිවරුන්ගේ නම් ඇතුළත් ගැසට් පත්‍රය නිකුත් කෙරේ by poornima

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Weather Alert: Showers to ease in Southwest, strong winds forecast in North

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Prevailing showery condition in the southwestern part of the island is expected to reduced gradually from today (01st)

Showers or thundershowers will occur at times in Western, Sabaragamuwa, Central and North-western provinces and in Galle and Matara districts.

Showers or thundershowers may occur at a few places in Uva province and in Ampara and Batticaloa districts during the afternoon or night.

Fairly strong winds of about (30-40) kmph can be expected at times over Western slopes of the central hills and in Northern, North-central and North-western provinces and in Hambantota and Trincomalee districts.

The general public is kindly requested to take adequate precautions to minimize damages caused by temporary localized strong winds and lightning during thundershowers.

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Aluthgamage and Fernando assigned printing work in prison

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Former Minister Mahindananda Aluthgamage and former Sathosa Chairman Nalin Fernando, sentenced this week to jail for 20 and 25 years, respectively, have been assigned duties in the printing section at the Welikada prison, sources said.

Both of them are being held together away from the main section of the prison’s ‘chapel’ section, where prisoners serving life sentences and those convicted of murder and rape are held. The prison’s printing section prints its own documentation.

Prison sources said that in placing them in relevant wards to serve their jail term, the authorities had taken into consideration the security of the two convicts, as they might have had political enemies.

Mr Aluthgamage was handed a 20-year term of rigorous imprisonment, while Mr Fernando was given a 25-year term of rigorous imprisonment by a High Court trial-at-bar after being found guilty of causing a Rs 53 million loss to the state.

They were accused of importing carrom boards and checkers boards through Sathosa during the 2015 presidential elections and distributing them to clubs.

Their lawyers said yesterday they were awaiting the certified copy of the judgement to prepare the appeal papers. The appeal will be considered by the Supreme Court.

(sundaytimes.lk)
(This story, originally published by sundaytimes.lk has not been edited by SLM staff)

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